est. 2007

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Our Economy Should be Designed to Thrive NOT Grow

We have discussed the conspicuous consumption model which people everywhere have become addicted at every level of society. The individual aspires to buy a house, car, travel and in large part sees the acquisition of material things as a badge of success. The government (reflecting the sovereignty from the people) works hard to maintain popularity with the people and therefore pursues policies to satisfy as insatiable thirst of the conspicuous consumption model.

In order to disrupt the downhill rollercoaster ride to nowhere enlightened citizens will have to shout enough is enough. There will have to be a revolution in thought, word and deed. Listening to the debates and various exchanges in social media and elsewhere it is evident the majority of our people are locked in an unproductive mindset. The reality is the cliche it is not business as usual is apt now more than ever.

The blogmaster watched the following presentation A healthy economy should be designed to thrive, not grow by Economist Kate Raworth and was intrigued by her postulation. Take the time to view the 15 minute presentation to feed your mind a different perspective IF you dare!

Oxford Economist Kate Raworth – TED Talk

288 responses to “Our Economy Should be Designed to Thrive NOT Grow”

  1. angela cox Avatar
    angela cox

    When a govt goes or put policies against it’s people
    Govt in essence put landmines in place against it’s better interest
    Such political landmines were strategically placed which created an unequal economic environment by which the small black business would suffer and unable to thrive one which encouraged foreign investment and interest
    Hard not to imagine if these political landmines were not put in place against black thriving businesses of the sixties before foreign investment was called by govt upon Barbados shores

  2. 555dubstreet Avatar
    555dubstreet

    Get nothing but abuse
    Punks jump up to get beat down

  3. 555dubstreet Avatar
    555dubstreet

    “Such political landmines were strategically placed which created an unequal economic environment by which the small black business would suffer and unable to thrive one which encouraged foreign investment and interest”

    you are not much of a business subject matter expert

    foreign investment is how the business world works (Business 101)

  4. 555dubstreet Avatar
    555dubstreet

  5. TheOGazerts Avatar
    TheOGazerts

    🐇/🐰
    Eugene/John
    Any clown can tell you that taking a graph and extending it without providing relevant data is dishonest/fraudulent.

    Any joker would have realized that without a scale that line could have started on the first day (00/0001). Obviously, 256 BC was an exaggeration.

  6. Donna Avatar
    Donna

    Cannot energy generated by wind and sun be stored for later convertion into electrical energy?

    🤦🏽‍♂️

    A little thing called CONTEXT!

  7. TheOGazerts Avatar
    TheOGazerts

    I do not know if we should put becoming a republic under the thrive, grow or elsewhere column.

    When a few of us ask what are the benefits or what will be different, we are met with responses that leave us bewildered.

    A good read
    https://barbadostoday.bb/2021/07/10/lecturer-suggests-giving-citizens-bigger-say-in-leadership-more-important-than-republic/

  8. TheOGazerts Avatar
    TheOGazerts

    Look at who ‘throwing shade’
    https://barbadostoday.bb/2021/07/10/ccj-complains-about-rulings-and-delays-again/

  9. Eugene/John Avatar
    Eugene/John

    TheOGazertsJuly 10, 2021 10:43 AM

    🐇/🐰
    Eugene/John
    Any clown can tell you that taking a graph and extending it without providing relevant data is dishonest/fraudulent.

    Any joker would have realized that without a scale that line could have started on the first day (00/0001). Obviously, 256 BC was an exaggeration.

    ++++++++++++++

    Are you beginning to call yourself a clown and a joker?

    I prefer Grasshopper.

    A long way to go!!

  10. Donna Avatar
    Donna

    Here you go again! When last has ANYONE mentioned throwing shade?????

    You just cannot let sleeping dogs lie!

    P.S. We have long acknowledged the dysfunction of our INJUSTICE SYSTEM.

  11. John Avatar
    John

    Grasshopper

    Just look at the scale at what represents 110 years, 1890 to 2000.

    You will notice that the red line is far less than the 110 years.

    If you really had your head on you should have pointed out the red line only goes back say 50 years to 1840.

    Then your observation would then have been worth some consideration.

    All you have done is show you do not know how to read graphs!!

  12. John Avatar
    John

    … and now Donna is calling you a dog!

  13. Donna Avatar
    Donna

    You will note that Dr. Yearwood has no problem with the republic and does not speak of “insurance policies”.

    I am on record agreeing with Cuhdear Bajan that since Covid has been our focus, there is no harm in delaying until next year, after public input has been properly received into a thorough review of our laws and necessary changes properly considered.

    But NO bloody referendum!

    Out with the old crap!

  14. Donna Avatar
    Donna

    I wouldn’t do that. I do not see dogs as a negative.

    But clever manipulation!

  15. Donna Avatar
    Donna

    You are correct in ONE thing- Bajans were more optimistic back then than they are now. At least our generation was. Still, many young people are starting their own businesses. They are hopeful.

    We may have reached the end of one road but there are many more roads we can take.

    The question is – will our government take the necessary steps to enable us?

    It isn’t over until the fat lady sings. Or until we cannot see around the fat lady.

  16. de pedantic Dribbler Avatar
    de pedantic Dribbler

    Ah Dr.GP back…and not beat missed …back to ur fine derogatory self. Great to see u 🙃!

    Re: “My ideas are pretty radical …”

    What is RADICAL in 2021 about acclaiming the legacy of farming production under SLAVERY as good economic operations or to use your word “profitable”.

    Thousands of workers were not paid an ECONOMIC wage but u acclaim that they were “happy” well-fed and loved their lot despite being brutalized as in sub-human circumstances in many instances.

    What the eff is radical about that racist, asine narrative.

    That’s standard racist (republican conservative) blarney and the fact that you wspose it here to boldly is a testament to your deep seated racist persona… not a thing to do with testing a dispassionate point of view.

    Why not test the debate of the legacy of slavery across all societies rather than ur rather insane pretty picture of that terrible era.

    I gone.

  17. TheOgazerts Avatar
    TheOgazerts

    “Just look at the scale at what represents 110 years, 1890 to 2000.
    You will notice that the red line is far less than the 110 years.
    If you really had your head on you should have pointed out the red line only goes back say 50 years to 1840.
    Then your observation would then have been worth some consideration.
    All you have done is show you do not know how to read graphs!!”

    Good try, but no cigar. One of the tricks to lie with statistics is to draw a graph without putting in a suitable reference point. The reader should not have to guess or make assumptions at when the story at where the graphs begins. A dishonest individual would even use two scales on a single axis. By the way, have you provided any numbers to support the height of the red line?

    —-x—
    On Donna,
    She told me to Buzz off and I did so weeks ago.
    I have nothing to say to or to do with her.
    She is free to say what she wants and when she wants.

  18. Donna Avatar
    Donna

    On Theo,

    You have no answer, therefore you should not speak.

    Fact – you keep waking up a sleeping dog. The last two times it was done, it was you who did it.

    Long time we have been explaining what offends us. Even William seems to have understood – FINALLY. It seems the divide has been healed, more or less.

    BUT YOU?

    Still poking the sleeping dog with a stick!

    What could you hope to gain???

    Now, I am baffled! (not really)

  19. TheOGazerts Avatar
    TheOGazerts

    @Donna,
    I do not come here to exchange insults with anyone.

    What is your objective? Will you push until I begin to exchange insults with you?

    I’ll come here when I want and I’ll say say what I want. If you choose to come here and make it all about you, or believe that you have a monopoly on some phrases then you can say what you want..

  20. Donna Avatar
    Donna

    Who the hell do you think you are fooling? You know what “throwing shade” means on BU! You know all the buttons and you are pushing them.

    Aren’t you the commenter on comments?

    You think you have the exclusive rights???

    I am free to comment on your comments and so I shall!

    P.S. Humans are an interesting study.

  21. TheOGazerts Avatar
    TheOGazerts

    Last/Last
    “You know what “throwing shade” means on BU!”

    You’re not the sole user of that phrase. In fact, the many times I have replied to that phrase was when the blogmaster used it.

    “I am free to comment on your comments and so I shall!”

    I agree with that statement and that is a repeat of what I said. What I resent is when you make it appear that my comments are directed at just you.

    Let’s try to not make it personal.
    It is not about me. It’s not about you.

  22. TheOGazerts Avatar
    TheOGazerts

    Back to the poetry of Angela Cox.

  23. Donna Avatar
    Donna

    Ways to annoy passive-aggressive people
    Confrontation. Assertive, not aggressive, confrontation is the best way to frustrate the goals of a passive-aggressive person. …
    Exposing motives. This goes one step beyond assertive confrontation. …
    Tit-for-tat. Passive-aggressive behavior often succeeds in annoying us. …
    Non reaction.

  24. Donna Avatar
    Donna

    Actually, I have NEVER used the term “throwing shade”. That is why I spoke about “us”. It’s the blogmaster’s term but we all know where it leads.

    Meanwhile, I was researching the term “passive aggressive” and the words “plausible deniability” showed up.

    Seems I know the terms instinctively. Also saw where it says one is not always aware or conscious of one’s tendency.

    Who would have thought it?

    🙄

  25. John Avatar
    John

    TheOgazertsJuly 10, 2021 2:05 PM

    By the way, have you provided any numbers to support the height of the red line?

    ++++++++++++++++++++++

    Yup.

    Check reference to Dunn, Sugar and Slaves and you will see output was between 10 and 15 thousand tons per year in the 17th century.

    Standard text book, … like Schombuirgk who will give more or less the same figure in the 1840’s!!

    Point is that all through slavery output was capped by milling capacity even though the slave population doubled.

    Doesn’t matter where I start the graph, 1650 or 1840 same result because output was the same, more or less.

    By 1859 there were a few steam mills, rated about 14 HP (Horse Power) so no big change till technology started to improve and the market demanded dry sugar so the HP (Hose Power) had to be greater to run the centrifugals etc.

    That’s around the 1890’s which surprise surprise, the author of the paper who produced the graph begun.

    The author didn’t worry himself with the pre 1890 output because it was insignificant when compared with the WWII era.

    He was only interested in the era when it was over 50 thousand tons and worth writing about.

    The red line I put in to show just how insignificant the output was pre 1890 and I thank you for helping me to make the point so clearly..

    https://www.jstor.org/stable/40572709?read-now=1&seq=3#page_scan_tab_contents

    It isn’t till the decades after the WWII that output really took off and the economy boomed.

    Grantley Adams and Erroll Barrow were passengers on the steam train in the 50’s and 60’s which supported the Deep Water Harbour and QEH..

  26. John Avatar
    John

    HP (Hose Power)

    Please note it should be Horse Power.

  27. 555dubstreet Avatar
    555dubstreet

    Fuck John
    He is no Hilary Beckles
    he may be Jack Bowman
    definitely low life trump scum
    white privilege is to be ignorant and command respect
    http://www.bbc.co.uk/history/british/empire_seapower/barbados_01.shtml

    I can’t understand what I’m doing
    Don’t understand where we’re going
    Please understand where I’m coming from
    Understand that it’s all in me
    But not plain to see
    Please
    Understand that we’re strumming
    Why understand where we’re going
    I understand life be flowing
    Dreaming as you be talking to me
    About where we’ll be
    I’m wearing your gold
    You whispering that it’s over
    To yourself
    It’s creeping up my shoulder
    Ooh, ooh, oh
    I understand where we’re coming from
    Understand my devotion
    Don’t understand what you’re doing
    I understand that it’s plain to see
    See
    But not clear to me
    Where the river flow that’s where I wanna go
    With you, with you, with you
    I just know that we are always love
    Oh, ooh
    Love the darkness and love our sorrows, oh
    When it’s time for summer
    I just know that we will always bloom
    Or will you have to find another
    Kind of pure lover
    Won’t you learn from it all
    And if I fall into the arms of another
    I hope I will discover the truth
    Ooh, I long for you
    Can’t understand what I’m doing
    Don’t understand where we’re going
    Please understand where I’m coming from
    Understand that it’s all in me
    Not plain to see


  28. TheOGazerts Avatar
    TheOGazerts

    A very good read.
    https://towardsdatascience.com/lessons-from-how-to-lie-with-statistics-57060c0d2f19

  29. 555dubstreet Avatar
    555dubstreet


    https://www.youtube.com/watch?v=gHNaoGJR-Pg

  30. Cuhdear Bajan Avatar
    Cuhdear Bajan

    It is my impression that back in the early 60’s the 11+ was not really as rigid with regards to age as it has subsequently become. Many children sat the 11+ at age 10+. Students who did not wish to take the exam at [that is in the class 3 year in public schools. I know nothing about private schools] 10+ or whose parents did not want them take it that year, or whose teachers felt that the student was not ready could chose not to take the exam until the following year, at age 11+ /class 4 of public elementary schools. At my public secondary school therefore, each year there were 2 sets of newbies. The ones who had taken the exam in class 3 at age 10+ went into Lower 1, and the ones who had taken it in class 4 at age 11+ went into Upper one. I was told that there had even been a class called Prep where children who had taken the exam at 9+ or earlier went into Prep. I expect that since it was a newish exam in the 1960’s that the rules were still quite fluid.

  31. Donna Avatar
    Donna

    We all know John is an expert at statistics. Why his brilliant analysis told him that Trump would win all fifty states!

    Person, woman, man, camera, tv!

    I declare, I am a genius! Move over, John Knox! I am now the smartest person on BU!

    Trump class!

    Murdah! Pretty soon, I will be seeing KRACKENS!

  32. Eugene/John Avatar
    Eugene/John

    Here are some of the publications of Ian Drummond whose work I am quoting.

    https://scholar.google.com/citations?user=DmlqAz8AAAAJ&hl=en

  33. Eugene/John Avatar
    Eugene/John

    Ian Drummond and his co-author, Terry Marsden are not historians.

    They deal in cold hard facts.

    They did not even bother looking at the era before 1890, just the century 1890 to 1990!!

  34. John Avatar
    John

    So the question is, if sugar output prior to 1890 was not worth analysing technically, what was the economy on which Barbados life’s blood depended?

    Is there anybody on here who can figure that out?

    Don’t worry, I got that covered too … just waiting to see if any of the resident geniuses can figure it out on their own!!

    Whatever it was, major profits were made from it.

  35. 555dubstreet Avatar
    555dubstreet


    “Don’t worry, I got that covered too … just waiting to see if any of the resident geniuses can figure it out on their own!!”

    No one is interested in talking to a sold out house negro like yourself enthralled in the white cunt who owns you

    BU is strictly for the field negroes to talk their talk

    Maybe the Doctor who thinks he is a know it all and likes jerks like you can answer your shit but he still believes the story of Adam and Eve so he is dumb as fuck, 2 cunts together is called scissoring

    Fantastic Negrito: Searching For Captain Save a Hoe

    I’m gamed up
    never lamed up
    and I ain’t never been no peanut
    When I’m moving in my region
    I keep a thumper when I go re-up (re-up)
    I try to teach and preach to these suckas to stop doing that hoe shit
    But they hella hardheaded and stubborn and they gon’ wind up in some
    mo’
    shit
    He callin’ himself a P but he’s a simp
    Patna’ you too polite
    you
    gon’
    get
    pimped
    If you heavy in the game you can’t be light
    You can’t turn a hoe
    into a housewife


    How Long

  36. Donna Avatar
    Donna

    The only thing that interests me is krackens!

    If I had a My Pillow full of crack, then Mike Lyndell would be able to communicate with me and give me the exact release date in August.

    Apart from being able to find the gold toilet bowl and knowing how to use it, I do not see the benefit of this Trump University diploma.

    What use is being a genius, if I cannot spot krackens…. or is it krakens?!

    I’m getting it mixed up with “crack in”!

  37. David Avatar
    David

    Tax expert backs call for more time

    By Tony Best
    Barbados, which relies heavily on its offshore financial services sector to raise Government revenue, has so far declined to sign onto an initiative designed to reform international tax rules that could force multinational firms to pay more taxes.
    But in taking that waitand see stance on a plan engineered by the United States and other members of the G-7, Barbados has so far declined to join most of its CARICOM neighbours in approving a “framework”, which expert and diplomatic critics said could prove costly to small island developing states by reducing much-needed revenues designated to accelerate their pace of economic and social development.
    Noel Lynch, Barbados’ top diplomat in Washington, Bruce Zagaris, a prominent international tax expert and Winston Cox, a former Governor of Barbados’ Central Bank have all backed the island’s call for more time to study the proposed global corporate tax plan.
    No rush to sign
    “We haven’t signed onto it because we want more time to study its implications. Most of the tax experts in our country want more time to study the proposed plan. In any case there is no need for us to rush to sign it. We have time until about 2023 to sign on,” said Lynch.
    Zagaris, once a tax adviser to Barbados, said he had not been consulted by the Mottley Administration on the G-7 plan or on the proposed tax reforms being coordinated by the Organization for Economic Cooperation and Development (OECD). “I don’t have a dog in this (international) fight over corporate tax reform but I agree with Barbados’ decision not to sign any statement at this time. There are too many unknowns and there aren’t any penalties or repercussions for signing later. So why rush to sign it?”
    Cox agreed: “There are too many issues to be resolved and questions to be answered at this time. There is no need to rush to sign on as many Caribbean countries have done. Ireland, Estonia, St Vincent & the Grenadines, Guyana, Venezuela, Cuba and Nigeria haven’t signed”.
    However, the United Kingdom., Russia, China, India, South Africa, Singapore, Mexico, the US, Zambia, Turkey, Panama, Luxembourg, Switzerland, Bermuda, Argentina, Hong Kong, Singapore, Grenada, Jamaica and the Cayman Islands are among the signatories.
    The new Biden Administration is pushing for a global corporate tax package that would establish a minimum tax floor of about 15 per cent on corporate profits.
    “The (proposed) framework updates elements of the century-old international system, which is no longer fit for purpose in a globalised and digitalised 21st century economy,” the OECD claimed in announcing the jurisdictions which have joined the
    framework that called for a “two-pillar package” coordinated by the OECD.
    Taxing rights
    “Pillar one will ensure a fairer distribution of profits of taxing rights among countries with respect to the largest” multinational corporate enterprises, including digital companies,” OECD promised.
    “It would reallocate some taxing rights over” the multinationals, regardless of where they operate.
    The second pillar, added the OECD, would put a floor on competition over corporate income tax, through the introduction of a global minimum corporate tax rate that countries could use to protect their tax bases.
    Lynch said his country considered the introduction of the proposed minimal corporate tax “puzzling”, contending that the island had been “battling” the OECD over the establishment of low tax jurisdictions. “Barbados went through a lot in the last couple of years in terms of converging our domestic and international tax rates so that we could compete in the international business sector on a level playing field.”
    The country went to great pains to settle an issue of Barbados being inaccurately described as a “no-tax jurisdiction” instead of being defined as a “low-tax” centre. He also insisted Barbados was not a “tax haven” as some have called it.
    “We expended a lot of resources, ensuring that there was compliance with the rules and the protocols set up by the OECD for these low-tax jurisdictions to thrive or exist,” he said.
    Two years later, Barbados was being told it could no longer be a lowtax jurisdiction but a place where a minimum of 15 per cent could be imposed, he charged. Just as important, the country was unaware of the method which would be used to implement the proposed plan, he said. “Apart from the fact that we have not had enough time to study, to look at the numbers to determine how it would affect us in terms of revenue and expenditure, we have not been given enough time to study the proposal.
    “That is why Barbados has said it is not yet ready to sign,” Lynch declared. “Most of the tax experts in Barbados and the people involved in the process have said they need more time to study it. The Government is looking at it. We have until October to sign on.”
    In any case, the plan isn’t expected to be implemented until 2023, so there was more than enough time” for Barbados to act, the Ambassador said.
    Cox believed Barbados was “following the right course” by studying the plan and its implications before rushing to sign. He expressed doubts that the plan was even “implementable”.
    “There is considerable doubt that the Republicans would allow it to pass the Senate,” he said. “Should it go through the Senate, it would affect
    the language in several double taxation treaties Barbados already has with foreign countries, including the U.S. itself. Many of those treaties would have to be changed.”


    Source: Nation

  38. 555dubstreet Avatar
    555dubstreet

    Past
    Present
    Future
    Thriving Vs Growing
    is just mathematics like
    Multiplying Vs Dividing

    Can Blacks become powerful players in the game of life
    as a collective union with social living independent and free

    Virile
    Youths are dying
    Oldies are lying
    #BLACKLIVESMATTER
    Spirits are rising
    in the aquarian age
    ascension timeline
    resurrection
    of god’s children

  39. 555dubstreet Avatar
    555dubstreet

    David, the International Banking gig is over, by the time Barbados has put in the changes, the Clients will have moved their monies

  40. David Avatar
    David

    @Kiki

    What events in the last two decades have shown us is that we have to work at a good mix of economic drivers. An over reliance on any one sector will not translate to good planning. Unfortunately Barbados and many of the SIDS in the Caribbean depend on tourism and services. Finding other economic drivers to generate adequate GDP has been a challenge in a globalized market place. The commonsense thing to do until we can develop the right mix of drivers is to pullback consumer spend, doing so will obviously have consequences given our dependence on retail and wholesale distribution.

  41. Donna Avatar
    Donna

    What strikes me is that Jamaica and Grenada has signed on.

    What does that say about Caricom? I bet they are trying to gain favour. I bet they do not rely on such business in the same way that we do.

    We are still not getting how much we need each other!

  42. Donna Avatar
    Donna

    Damn little chunks of rocks in the middle of an ocean thinking we can go it alone!

    Stupid, stupid, stupid!

  43. David Avatar
    David

    Jamaica has always had a mixed economy re manufacturing and agriculture.

    Grenada has its spices as well their economy created some fiscal space as they when it took a haircut after a major hurricane some years ago.

  44. David Avatar
    David

    The challenge Barbados has is that gain from our haircut has been eroded by Covid-19 etc.

  45. 555dubstreet Avatar
    555dubstreet

    The Barbados Rip Off is the Rich Rich and the Poor Poor.
    GDP is meaningless when the have alls have all and the have nots have not.
    Having no money is the secret formula to pullback consumer spend.

  46. 555dubstreet Avatar
    555dubstreet

    There is no such thing as coincidences

    Analysts should only concentrate on understanding problems

    and solutions will just happen

    2017 report and subsequent Car Crash by Barbados

    https://blogs.lse.ac.uk/latamcaribbean/2017/08/18/trouble-in-paradise-the-hidden-impacts-of-increasing-inequalities-in-barbados/

  47. David Avatar
    David

    The rich will always be with us in a capitalist system, therefore policies to ensure efficient distribution of wealth should be a priority with any government BUT the PRIORITY 1 must be building a sustainable economy read protecting the whole.

  48. 555dubstreet Avatar
    555dubstreet

    The Capitalist system has failed and Barbados is ahead of the curve as debtor in possession defaulting on Government Bonds.

    The division in Barbados at every level is between creoles and blacks as a legacy of division between whites and blacks.

  49. 555dubstreet Avatar
    555dubstreet

    Barbados was a laboratory to develop a world domination model for some but not all

    Anticipating next question what is the obvious no brainer solution secret formula for life in Barbados for the thinking man woman child plagiariser and parasite

    socialism > nationalism > afros > dreadlocks > back to africa > youths = link to future > a peaceful revolution > hundreds of thousands saying the same thing > unitied black diaspora > dancing to zipping up my boots going back to my roots original discomix

    Lyrics
    … To the place of my birth, back down to earth, yes
    Not talkin’ ’bout the roots in the land
    I’m talkin’ ’bout the roots in the man, yes
    Zippin’ up my boots, getting back to the roots… More

  50. angela cox Avatar
    angela cox

    DavidJuly 11, 2021 7:28 AM

    The rich will always be with us in a capitalist system, therefore policies to ensure efficient distribution of wealth should be a priority with any government BUT the PRIORITY 1 must be building a sustainable economy read protecting the whole

    Cxcccccc
    A poor excuse for keeping the majority poor
    Xxxxxxxxxx

    Govt policies are those to blame for keeping the rich wealthy and the poor clawing for the crumbs
    Example the 124 million plus other millions in tax write off to the wealthy businesses
    The large amount of govt hand outs that entice business’s to invest in return for jobs
    These financial sourcing of govt give away up adds up to plenty in comparison to nothing of real economic substance of helping the poor get out of poverty

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