Julian Reynolds | Develop Jamaica Initiative: An economic stimulus plan

In October 2006, in a presentation to the Rotary Club of downtown Kingston luncheon at the Hilton Hotel, I presented the Develop Jamaica Initiative (DJI) for the first time, and was invited back by the same body on March 16, 2016 and presented ‘Kingston’s value as a cultural tourism destination, and its relevancy to the Develop Jamaica Initiative’, highlighting the DJI for the second time.

It was also presented to the Government of Jamaica during the People’s National Party administration of Prime Minister P.J. Patterson. The presentations were made at Jamaica House, twice to Minister of Development Paul Robertson and once to his assistant, Arnaldo Brown. Attempts were also made to present the initiative to the first Portia Simpson Miller’s administration and the Bruce Golding-led administration. The responses were tepid at best.

The government’s position was that the country was in a dire financial predicament and “could not take on any more debt”. My response then and now is that government continues borrowing to pay debt and will be in a continuous weakened position if it stays this course. Austere economic policies and tax reforms cannot by themselves get Jamaica out of its stagnancy, high unemployment and high crime rates, and other serious social maladies.

DEVELOPMENT

Economic growth is very important, but the principal answer to Jamaica’s problems is development. It addresses employment, stimulates wealth building, increases the tax base, and provides monies to tackle improving education, health, and failing infrastructure. Jamaica, as I have written in many articles, has enormous global brand-name recognition, great respect for its cultural and social offerings, and plain goodwill around the world. There are many non-Jamaicans willing to offer their expertise and resources to a growth and development-oriented Jamaica.

The initiative, mentioned several times in my last two articles ‘Where Goeth Jamaica’ published in The Gleaner on June 8 and June 15, is a national economic stimulus plan that should impact every corner of Jamaica, capturing world attention and getting world support. It has been published, in part, in leading publications in Jamaica, several times in my columns in the In Focus section of the Sunday Gleaner. It is my firm belief, having examined and written on Jamaica’s social, economic and cultural challenges and accomplishments, and participated in business in the United States and Jamaica for some 5o plus years, that it represents the best way forward for Jamaica, within a socio-economic context. I will here present it updated and in its entirety.

Jamaica possesses the human capital, ambition and intellect to achieve First-World status in 20 years. However, this requires leadership, the will, and consensus that growth and development is the main objective, with a clear message of socio-economic benefit sent to all. Targets must be set, for example, to grow the economy by six per cent over the next two years, and sustain and advance this growth path.

LEADERSHIP

More than anything, right now, Jamaica needs leadership - confident, committed, not averse to making the bold, decisive, and innovative steps to advance the country. Together, Prime Minister Andrew Holness and his Minister of Finance Dr Nigel Clarke, with the supporting cast of cabinet ministers and junior ministers, are capable of seizing the moment. I believe there are among them leaders with vision and conviction and, hopefully, learning from past missteps. Recent indicators emerging from the IDB, World Bank, and IMF that “development” must be prioritised by small developing states may now bring some acceptance of what I and others have been saying for so long.

There are signs of the government moving in the right direction: A serious look at offering diaspora bonds to help finance the country’s needs. But there needs to be more of these moves. Partisanship, cronyism, egomania, laziness, political expediency, bad mindedness, being thin-skinned, have no role in advancing Jamaica.

The United States would not be in the position of world leader today if President Franklin D. Roosevelt did not, with his Democratic Party, impose the New Deal, considered as “socialism” by the then Opposition, to save the American economy from ‘the Great Depression’ of 1929. He summarised his action as a “use of the authority of government as an organised form of self-help for all classes and groups and sections of our country”. Germany and Japan would not have risen to become great economic powers had not America imposed the Marshall Plan to rebuild their economies after they lost World War II.

The faltering American economy was on the brink of failing in 2008 if President Barack Obama and his economic advisers had not provided economic stimulus to the financial and automotive sectors, which outraged the Opposition who claim it was “anti-capitalism” and “anti the American way”. Today, these sectors are sound, profitable, saving millions of jobs. Jamaica must learn from these and accept pragmatism over political ideology.

Julian ‘Jingles’ Reynolds is a writer, film-maker and social entrepreneur. He is president of Fiwi Productions in New York, and chairman and co-founder of the Sounds & Pressure Foundation in Jamaica. Send feedback to columns@gleanerjm.com