Time to diversify our economy

THE EDITOR: I would like through the medium of your paper to express the following. The crime rate in Trinidad and Tobago and corruption, kidnappings and murders are alarming. One can hardly wake up in the morning without hearing about crimes like the above being committed. And these crimes seem to be gaining momentum with each passing day. As the country collects more and more revenue from gas and oil export, the crime rate climbs higher and higher. Correspondingly, the gap between rich and poor becomes wider and wider. All indications show that the wealth of this country is being enjoyed by a precious few and is not being filtered down to the poor.

Economists seem to argue that this trend would continue if the economy is not diversified by the Government of the day by giving greater incentives to an agricultural programme. If we were to check on the economic system of some Commonwealth countries like Australia, Canada, and New Zealand, we would observe that although these countries are blessed with minerals, their economies are not dependent on minerals solely but they have based their economies in areas like agriculture and other manufacturing programmes. The result is that these countries more or less enjoy a balanced economy with less inflation and more employment.

Trinidad and Tobago should embark on a new economic programme by spending more of the oil wealth on agriculture and other areas thus creating more sustainable jobs rather than building huge structures that do not enhance the economy. The crime rate is indeed alarming in this country. But the crime rate can be reduced by creating sustainable jobs as above indicated. The Government must, in the words of Sir Winston, “Cease dilating upon its grandiose plans for a visionary future while fumbling ineffectively with practical problems that demand immediate action.” If a sound economic system is not followed then our 2020 vision would be an illusion.

DA COSTA MC DONALD
Mahaica