What we need here is a Social Contract

[Willi]

Trinidad businesses got finsacked?

Start from desso...

[Muadib]

Innovation and Venture involve RISK.. who is going to do this when the RISK involves losing losing homes and families ?

Why would ANYONE without their own capital try this in Jamaica after the FINSAC debacle with no insolvency protection ?

Why would ANYONE try this when they can earn 20+ percent on their money..

You think all the 'lazy' monied class just decided to disembark in Jamaica ? Stop being a sample.. the achievement of Jamaican Entrepreneurs in friendly environments is a matter of record..

The business class and their activities are a PRODUCT of the environment.. just like any other country in the World... this is 2012.. di 40 year old 'business class lazy' arguments is quite inane now..

Jamaica is neither friendly to foreign investment or local investment in the area of innovation.. so one either packs up and leaves or gets into ventures that can survive in the environment..

In the late 60's, early 70's Lee Kuan Yew had the SAME issue to deal with regarding the private sector business class in Singapore.. do some reading and see what he did differently from your set... time yuh read some relevant material and stap di yapping..

[Mosiah]

Ok! I was just scanning your posts to see if you mentioned LKY.

Planet Earth is still on its axis!

Whew!

[Mosiah]

Social Contract?!?

He said that Jamaica's misfortune is that policymakers have little agreed policies or agreed principles on which to devise sustainable policies which would allow them to pass the baton successfully from one to the other.

"Hence, the end product of the relay is a non-productive passing of batons that are fumbled and dropped, and runners who take two steps forward and two steps backwards," he explained.


Read more: http://www.jamaicaobserver.com/news/...#ixzz28qVQnQUD

[Assasin]

Let us make good policies first and have some basic standards. People defending bad economic policies to death not going to take us anywhere.

[Islandman]

They defend them because its not about the policies! It is about the politics.

[Assasin]

yeah that is the problem. The fact is there is no right or wrong economic policies depending on who is in power.

We may not be 100 sure of good policy but we definately should know what bad policies are.

[Exile]

Unfortunately you can't seem to see anything beyond PNP and JLP politics. Boss, you don't see I stay clear of the idiat political arguments??? Leave me out of the tribalism.

[Exile]

I agree that cost of capital was ridiculous and interest rates prohibitive BEFORE FINSAC....

[Exile]

Some of what you say is quite true but you must write the same thing when people start the same idiat arguments ad nauseum. As I said that is only PART of the story....

[Exile]

Thanks. That is the overarching problem in Jamaica - it is all dictated by politics. Even when its a good idea, it's destroyed by political favouritism or bias.

[Assasin]

The thing is it is prettyl high, not as before still. Government may have come down somewhat but the banks don't. Many of the business people who got FINSCed would have tried again if they could write off some of their debt but it is like a noose around their necks that won't go away and it keeps on getting bigger.

[Muadib]

suh wait.. nuh muss.. FINSAC was the tool used to bail out certain aspects of the Industry..

It was the run away inflation followed up by astronomical rates that resulted in the eventual crash.. what you need to study is the rates before the PNP took over in 1989..

Eddie explained it very well yesterday after they bestowed him with yet another honor.. I will try and see if the tape is available.. it should be made a listening requirement as part of Jamaican citizenship..

[Exile]

Listening requirement mi r a s s!!! Don't get carried away now....woeeiiii....

[Muadib]

well.. mi woulda select dat over Marcus Garvey lessons...