A Comparison of Jamaican and American Political Economies

8 Pages 1978 Words

Jamaica’s top trading partners, also provide much needed capital for economic development.
Our colonial government founded the political economy of Jamaica after the indigenous people
on the island were killed. Eventually Great Britain became our rulers. The political economy
of Jamaica was then influenced by Great Britain and we relied on sugar, bananas and to a lesser
degree bauxite. After independence in 1962 a broader base for the earning of income was sought
and to the above tourism was expanded and became a major player in the political economy. A
levy was introduced on the production of bauxite and it now became a major contributor.
Jamaican’s tend to be a people who immigrate to all parts of the world but they do not forget
where they are from or whom they have left behind. Many overseas Jamaican’s remit money and
goods regularly whether as their personal savings or to assist family. These remittances are of
a substantial nature and rank much as the earnings of bauxite or tourism. This money filters
into the economic system. There is some amount of crops being exported, which brings in foreign
exchange to the benefit of individuals and companies such as coffee, yams, peppers and flowers.
The political economy of Jamaica is therefore said to be founded on exports and remittance.
The Jamaican constitution, promulgated in 1962, established a parliamentary system of government
patterned after that of Britain. The prime minister is the head of government. The British
monarch is the head of state and is represented by a governor general, who is appointed on the
advice of the prime minister. A six (6) member Privy Council assists the Governor General, but
his duties are largely ceremonial. Executive powers reside in the Cabinet led by the Prime
Minister, which is accountable to Parliament. The Prime Minister is the leader of the majority
party in t...