Economic Development of Caricom
From Early Colonial Times to the Present
By Winston H. Griffith
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About This Book
It has been suggested that, if CARICOM nations wish to accelerate their development, they should embrace laissez-faire economic policies. However, laissez-faire economic policies have reinforced the very economic and social structures that have contributed to their low level of development; furthermore, laissez-faire economic policies ignore social attitudes that can greatly influence a nation’s development. Moreover, low-skilled labor-intensive production processes, which once propelled growth in CARICOM nations, will no longer perform a similar role because production processes are becoming more and more knowledge-skills intensive, and nations wishing to attract foreign manufacturing investment or high-tech services may not be able to do so without an adequate pool of the necessary knowledge skills. CARICOM nations must therefore try to accumulate a pool of knowledge skills that can help their economies become internationally competitive.
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Winston H. Griffith, Professor Emeritus, taught economic development, political economy of the Caribbean, international economics, and international finance at Bucknell University.
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Table of Contents
List of Illustrations; Acknowledgments; Introduction; 1. Economic Smallness; 2. Agriculture; 3. Industrialization; 4. Export Tourism; 5. Economic Integration; 6. Commercial Banking; 7. Education; 8. Role of Government; Conclusion; Notes; References; Index.
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