The Economic And Social Effects Of Globalization On Jamaica

1140 Words Oct 20th, 2016 5 Pages
“Life and Debt” is a documentary that examines the economic and social effects of globalization on Jamaica. The movie mainly describes the affects of the International Monetary Fund and the World Bank’s structural adjustment programs. While these funds are created to help developing countries become more developed, the documentary shows how the reforms were not successful in Jamaica and put the country in debt. This paper will discuss the portrayal of globalization in the documentary, and how globalization can affect people through different scale—both locally and globally. The documentary depicts globalization as way in which countries are interconnected around the world and affect each other through various economic, social, and political processes. The documentary particularly focuses on the economic affects of globalization, by examining the affects of economic liberalization and the internationalization of finance through organizations such as the International Monetary Fund and structural adjustment programs. Loans given by the IMF to developing countries such as Jamaica do not help them develop, but instead prevent them from advancing economically and socially. The advancements that these loans have guaranteed have not occurred, and the policies that have been imposed with the loans have negatively impacted the majority of the Jamaican population. Many local workers, especially farmers, have lost their jobs as goods are imported from other countries. The country is…
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