Saturday, February 25, 2006
Life and Debt - paying for the mistakes of our past
The present state of the global order is, in many ways, a manifestation of the remnant inequities of our colonial past. The socio-political and economic impact of globalization on the developing world is what some refer to as "21st century colonialism." In part, I refer to the flawed monetary policies imposed on helpless developing nations by international monetary organizations such as the IMF and worldbank. This however, is just the tip of the iceberg.
In a slightly broader context, this inequity has pervaded through most every level of society. So deep is it engrained into the fabric of our daily lives that we often fail to recognize its repercussions or its very existence even. The actions of an average consumer in the west can inextricably be linked to the standard of living of a child in the streets of Kampala, Uganda. This suggests there are much greater lessons to be learned for everyone involved.
I just watched a brilliant, provocative and unapologetic documentary film on the effect of globalization and in particular the fiscal policies of the otherwise revered,global, financial and economic institutions that have, through "the mechanism of debt" and other grossly erroneous policies caused a grave injustice to a good majority of mankind.
Life and Debt is a powerful documentary on Jamaica that exposes a classic example of a country that has taken the brunt of this ubiquitous, global injustice.
"The complexity of international lending, structural adjustment policies and free trade will be understood in the context of the day-to-day realities of the people whose lives they impact. "
Mind bending as it is, I think whether you are a future, current or past policy maker, a random concerned globalista or a simply curious invidiual, you need to get a watch on.
In a slightly broader context, this inequity has pervaded through most every level of society. So deep is it engrained into the fabric of our daily lives that we often fail to recognize its repercussions or its very existence even. The actions of an average consumer in the west can inextricably be linked to the standard of living of a child in the streets of Kampala, Uganda. This suggests there are much greater lessons to be learned for everyone involved.
I just watched a brilliant, provocative and unapologetic documentary film on the effect of globalization and in particular the fiscal policies of the otherwise revered,global, financial and economic institutions that have, through "the mechanism of debt" and other grossly erroneous policies caused a grave injustice to a good majority of mankind.
Life and Debt is a powerful documentary on Jamaica that exposes a classic example of a country that has taken the brunt of this ubiquitous, global injustice.
"The complexity of international lending, structural adjustment policies and free trade will be understood in the context of the day-to-day realities of the people whose lives they impact. "
Mind bending as it is, I think whether you are a future, current or past policy maker, a random concerned globalista or a simply curious invidiual, you need to get a watch on.
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I second that.
The documentary attempts to show things from so many different angles, yet it does so with tact - a parallel with something that the 'North' audience can identify with (perception of Jamaica as a tourist destination - relaxing with reggae music in the background).
What's most painful is that the monetary policies, free trade policies, and agricultural take-overs and 'dumping' schemes are all squeezing Jamaica, and leaving it with little option to stand up for itself. The assets of the people are driven down the value-chain and set to compete with other developing nations/regions. And the reason that they are almost forced to take this path is due to the ever-growing debt.
I especially liked the Jamaican economics teacher. For him, it was obvious what the effects of the IMF structural adjustment and policies were doing to his country. For Jamaica, people (like him) who understand the mechanism and can stand up for Jamaica (and either stay or repatriate) will be key to its future.
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The documentary attempts to show things from so many different angles, yet it does so with tact - a parallel with something that the 'North' audience can identify with (perception of Jamaica as a tourist destination - relaxing with reggae music in the background).
What's most painful is that the monetary policies, free trade policies, and agricultural take-overs and 'dumping' schemes are all squeezing Jamaica, and leaving it with little option to stand up for itself. The assets of the people are driven down the value-chain and set to compete with other developing nations/regions. And the reason that they are almost forced to take this path is due to the ever-growing debt.
I especially liked the Jamaican economics teacher. For him, it was obvious what the effects of the IMF structural adjustment and policies were doing to his country. For Jamaica, people (like him) who understand the mechanism and can stand up for Jamaica (and either stay or repatriate) will be key to its future.
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