The Underachieving Society: Development Strategy and Policy in Trinidad and Tobago, 1958-2008 (Paperback)Terrence W. Farrell (author)
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Historically, Trinidad and Tobago's economy cycles from boom to bust depending on what happens to the price of oil. The carefree, undisciplined lifestyle of most of the population is occasionally perturbed by a paroxysm of social unrest. Downturns are accompanied by ritual incantations by government officials of the need for "diversification" to reduce the country's dependence on oil and the energy-based industries, the formation of new committees, task forces and boards, and considerable hand-wringing and angst about the "sustainability" of government fiscal operations. Seemingly bold new initiatives and projects are announced, and all the while people wait and secretly hope for a quick turnaround in the price of oil, ammonia, methanol and natural gas so that rents will again begin to accrue, government spending programmes can restart and the fete can resume. Trinidad and Tobago will not achieve its potential for development unless and until this cycle is broken.
Publisher: University of the West Indies Press
Number of pages: 248
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