Many Rivers to Cross Jamaica

THE EDITOR, Madam:

The Jamaican governments do not wield the power people think it does. More than half of the expectations placed on it are beyond its control.

The power lies with the two per cent who control 95 per cent of the economy. They hold the reins of political influence, and the government must work closely with them to achieve meaningful progress.

So far, governments seem to have acted like parasitic hosts, feeding off people who have bought into the illusion of control. Democratic socialism, touted as a solution, has proven to be a feel-good dream that ultimately led to economic stagnation and dependency.

Look at the examples: Cuba suffers under US sanctions, China pays lip service to socialism while practising capitalism, and Venezuela is plagued by economic hardship fuelled by sanctions and mismanagement. Meanwhile, countries like Jamaica need to adopt a different approach.

It’s time for Jamaica to embark on a closely supervised, participatory, bottom-up capitalist development strategy. A People’s Incentives Act, modelled after the Hotel Incentives Act, could be the key.

This would involve minimal duties, no direct taxation, and a reliance on indirect taxation like the General Consumption Tax. By abolishing income taxes and eliminating squatting, Jamaica could unlock productive capital, drive inclusive growth, and reduce crime and return to single-digit murder rates and achieve upward socioeconomic development.

As Jimmy Cliff so aptly put it, Many Rivers to Cross. But with the right approach, Jamaica can rise to the challenge. Long live Jimmy Cliff, and long live Jamaica – we can cross it.

MICHAEL SPENCE

micspen2@hotmail.com