CARIBBEAN STUDIES - ISSUES IN CARIBBEAN DEVELOPMENT

What is development?

Generally speaking, it is the improvement of the standard of living of a country’s people. It is related to economic, political, environmental and social factors.

LEDc stands for?

Less economically developed country

List 2 features of a LEDc

1. Lower life expectancy of citizens

2. Less education

3. Lower incomes

What is economic development?

This is development that improves the standard of living of a people in a country by increasing economic activity

The main measure of economic health is?

GDP per capita

What is per capita income and why is it controversial?

Per capita income is the total income earned from goods and services produced in a country in a year divided by the total population for the country in that year. It gives an idea of the average income of the country’s inhabitants. However, it does not take into consideration the unemployed, under and over aged persons who earn no income but are included in the calculation

What is the main export of St. Kitts and Nevis?

rum

Jamaica’s main exports are?

Bauxite and garments

What is neo-colonialism?

Neocolonialism is the control of less-developed countries by developed countries through indirect means.

Give TWO advantages of growth in the Tourism sector on Caribbean development as well as TWO disadvantages

What is the ‘multiplier effect’ ?

What is an SAP

What is meant by the term recession? During what period did the Caribbean feel its effects the most?

A period of ‘recession’ is a time during which there is negative economic growth. It is signalled by a falling GDP or growth below 2% for a year. This recession was felt in the Caribbean especially during 2008-2009.

State 3 possible causes of a recession in the Caribbean

1. Inflation

2. Political unrest: drop in foreign investment

3. Disastrous floods (Guyana 2005), hurricanes

4. Rising exchange rate which makes imports more expensive and reduces demand for them

List 4 ways to stimulate growth an economic recovery

1. Protect local industry with ‘buy local’ campaigns and increase funding for small businesses.

2. Decrease taxes, which has a quick effect but reduces revenue

3. Enforce wage freezes

4. Devaluation or decline the value of the currency of a country. This makes imports expensive so locals are forced to do without it or buy local alternatives.

CARICOM has created the?

CSME

Caribbean Single Market and Economy

What is ‘sustainable development’?

Sustainable development is a comprehensive approach to development that takes into account social, environmental and economic aspects. It is about developing a society’s resources without compromising the ability o future generations to do the same.

In the Caribbean, in terms of sustainable development, areas of concern include?

• Town planning - clean air, landfills to dispose of waste without water and soil contamination

• Health - wealth staffed hospitals, available drinking water and foo supply

• Energy sources - sustainable supply of electricity, fuel for vehicles

• Education - adult literacy, research to advance science, reduction in social inequality, higher employment levels

• A green economy - no careless use of resources, safe disposal of waste, lower natural resource compromisation, using green agricultural practices

• Global warming - cut carbon emissions to reduce climate change

What is ‘human development’?

Human development is concerned with improving people’s well being through better opportunities an freedoms and trying to ensure basic needs are met (food, water, housing). The Human development Paradigm combines sustainable and economic growth but puts people at the centre.

What are the 4 pillars required for human development?

1. Equity: People must have access to equal opportunities

2. Productivity: People must be able to participate full in income generation

3. Empowerment: Development must be done by the people

4. Sustainability: Access to opportunities must not only be guaranteed for present generations but for future ones as well