Dear Editor,
Hezeken Bolton's letter to the editor 'Take it or leave it...' of June 25, 2015 was classic with reference to the current wage stand-off between the Government and the public service. I hope the comments will be read by many Jamaicans.
The article raised pertinent questions about Jamaica's current economic situation and why the Government cannot even afford to pay decent wages to public servants. The reason is quite simple, we are heavily in debt and at the mercy of our lenders.
Jamaica has been indebted for decades. There is no excess resources, the problem is, we import everything; from refined sugar to box drink. Some time ago there was an article in the news about the massive amounts Jamaicans spend each year on artificial hair -- US$7 million in 2012, and as much as seven to 14 times the rest of the Caribbean. Of course, we live in a free market, but unnecessary heavy demand on scarce US dollars will devalue our own Jamaican currency even more, forcing all prices up.
We rely heavily on remittances and earnings from tourism, but our earnings alone cannot support our needs and lifestyle. Remittances to Jamaica are reportedly almost 50 per cent of all remittances sent to the entire Caribbean region, so there is no excuse why we shouldn't be doing a lot better. The problem is that everything from North America is available for sale in Jamaica, and people buy, no matter the price. Our culture is such that if we want something, we must have it. Until we address this cultural problem and try to contain our penchant for excess, as well as arrange our priorities, we will continue to have a serious economic problem. Until we can better manage our imports, there will be a vicious cycle and Jamaica will get poorer and poorer, forever borrowing to repay a massive and growing debt, with less to spend on critical areas such as health, education, social services.
If you think of the individual who has no choice but to live off loans and credit cards to support his lifestyle, and who ends up spending most of his monthly earnings to repay this increasing debt, you get a real sense of why this country is stagnant economically and otherwise.
As Bolton pointed out, we don't even have to look far to learn some lessons from others, to see what it is we are doing wrong. And, yes, I agree: "The onus is primarily on the Government to steer the country along a path that is comforting to its citizens and inviting to visitors."
P Chin
chin_p@yahoo.com
We are why we aren't prosperous
-->
Hezeken Bolton's letter to the editor 'Take it or leave it...' of June 25, 2015 was classic with reference to the current wage stand-off between the Government and the public service. I hope the comments will be read by many Jamaicans.
The article raised pertinent questions about Jamaica's current economic situation and why the Government cannot even afford to pay decent wages to public servants. The reason is quite simple, we are heavily in debt and at the mercy of our lenders.
Jamaica has been indebted for decades. There is no excess resources, the problem is, we import everything; from refined sugar to box drink. Some time ago there was an article in the news about the massive amounts Jamaicans spend each year on artificial hair -- US$7 million in 2012, and as much as seven to 14 times the rest of the Caribbean. Of course, we live in a free market, but unnecessary heavy demand on scarce US dollars will devalue our own Jamaican currency even more, forcing all prices up.
We rely heavily on remittances and earnings from tourism, but our earnings alone cannot support our needs and lifestyle. Remittances to Jamaica are reportedly almost 50 per cent of all remittances sent to the entire Caribbean region, so there is no excuse why we shouldn't be doing a lot better. The problem is that everything from North America is available for sale in Jamaica, and people buy, no matter the price. Our culture is such that if we want something, we must have it. Until we address this cultural problem and try to contain our penchant for excess, as well as arrange our priorities, we will continue to have a serious economic problem. Until we can better manage our imports, there will be a vicious cycle and Jamaica will get poorer and poorer, forever borrowing to repay a massive and growing debt, with less to spend on critical areas such as health, education, social services.
If you think of the individual who has no choice but to live off loans and credit cards to support his lifestyle, and who ends up spending most of his monthly earnings to repay this increasing debt, you get a real sense of why this country is stagnant economically and otherwise.
As Bolton pointed out, we don't even have to look far to learn some lessons from others, to see what it is we are doing wrong. And, yes, I agree: "The onus is primarily on the Government to steer the country along a path that is comforting to its citizens and inviting to visitors."
P Chin
chin_p@yahoo.com
We are why we aren't prosperous
-->