Life and Debt Documentary Review

Flashcards covering key concepts related to the documentary 'Life and Debt', addressing economic themes, policies, and the impact on Jamaica.

IMF Austerity Regime

A series of economic policies mandated by the International Monetary Fund intended to reduce government spending and stimulate economic growth.

Globalization

The process by which businesses or other organizations develop international influence, often resulting in the loss of local economic self-sufficiency.

Dependency

A state of reliance on external sources, especially in economic contexts, often seen as a direct consequence of neo-liberal policies.

Free Trade Zones

Areas where goods may be imported, handled, manufactured, and re-exported without intervention from customs authorities.

Neoliberalism

A political approach that favors free-market capitalism, deregulation of industries, and reduction in government spending.

Economic Inequality

The unequal distribution of income and opportunity between different groups in society.

Short-term vs Long-term Development

The conflict between policies that favor immediate results versus those that invest in sustainable long-term economic growth.

Colonial Legacy

The lasting impact and challenges stemming from past colonization, including economic and social structures.

Dairy Industry Collapse

The significant decline of Jamaica's dairy production and local dairy economy due to imports of cheaper powdered milk.

Banana Wars

Disputes primarily between the EU and the USA regarding trade access to banana markets, affecting Jamaican exports.