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Jamaica’s economy is quite weak and corrupt compared to other financial systems around the world
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Jamaica's economy is quite weak and corrupt compared to other financial systems around the world. This weakness is caused by many factors which create a border for the nations economic development. Firstly, the government of Jamaica has quite a large amount of corruption which has so far proven to be unstoppable. It's corruption index is at 74 (1 being the least and 145 most corrupt)1. Since gaining independence from the British Commonwealth in 1962, its political power has shifted between the Peoples National Party (PNP) and the Jamaica Labour Party (JLP). Before JLP took power, PNP, with Michael Manley as prime minister, declared their government socialist even though most of the sectors of the economy were dominated by private enterprises (many foreign investors ceased investment because of the claim that Jamaica was a 'socialist government'). Manley created a land reform program to fight unemployment in which land was...
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