The evocative idea of the darkest hour being just before dawn was coined by Thomas Fuller almost 700 years ago, in his religious treatise, A Pisgah Sight of Palestine. While acceptable as a literary device, it is a literal inaccuracy since the darkest hour usually is around midnight. It nonetheless remains a powerful metaphor and […]
(with apologies and gratitude to Clement Clarke Moore for “Twas the Night Before Christmas”) It was Christmas eve, mi seh, and all over di yard you couldn’t see a soul, not even di guard. No distant shots; one a di quieter nights, And inside, a tree, wid trimmings and lights. Di children had […]
I received this email, about soap, from from one of my students. I try to clean up the issue. Dear Dr King, As my economics teacher, I need your perspective on this. My father believes that he should buy one bar of soap a week because he claims it’s better than buying ten bars of soap and not using […]
The Minister of Finance, in his budget presentation last week, has promulgated a shift of the tax burden from income taxes to taxes on consumption, primarily on petrol and international travel. This signals a more efficient, and possibly even fairer, tax system. Here’s why. The highest long run priority in a country like Jamaica (poor […]
Three days is too short for anyone to become an expert on anything, but it doesn’t take too long in Haiti to begin to see why it is the poorest country in the hemisphere. The typical Haitian earns less than a fifth of that earned by his counterparts in any of its neighbouring countries – […]
Contemplate the noble entrepreneur. He starts with an idea – a way to do something better – cheaper, faster, stronger, prettier. He gathers up capital and takes a risk. If his idea is faulty, he will lose his money. HIS money. He will be poorer. Perhaps wiser, too, but that doesn’t provide shelter from the […]
Here is a collection of some academic evidence on the empirical relationship between open trade and economic growth. Pretty much all of the them show a clear, positive relationship. Not a single one supports the view that protectionism promotes economic growth. Dollar, David (1992). “Outward-Oriented Developing Economies Really Do Grow More Rapidly: Evidence from 95 […]
An economic growth strategy that focuses on economic fundamentals (such as balanced budgets and low inflation) may not solve every economic problem a poor country has to face, but it is the best strategy for achieving long-term growth. That’s why Barbados is more than twice as rich as Jamaica. Ian Boyne, writing in the Sunday […]
The problem with the Azan Spaldings Market episode is not that the Parish Council was defrauded out of a few thousand dollars; it is what it says about the government. The governing party seems to have a difficulty recognizing corruption when it sees it. Often, because no money may end up in the pockets of the […]
A twitter follower of mine sensibly asks, if a permissive trade policy is as good for the local economy as I claim, why then do most developed countries practice some form of domestic market protection. Analogously one may ask, if driving at only a moderate speed is good for you, why then has nearly everyone driven above the speed limit […]
Damien King 