-
Essay / The Impact of Invitational Industrialization on...
This paper attempts to demonstrate the concept of invitational industrialization and its social impact on the Caribbean. The concept of industrialization is seen as the process of social and economic changes by which a society moves from an agrarian society to a more capital-intensive economy, based on manufacturing, a specialized workforce and industrial factories, where the economy gains much more capital. After World War II, Saint Lucian economist and Nobel Prize winner Sir Arthur Lewis (1915 – 1991) recognized the need for the Caribbean not to rely solely on agriculture, as the level of agricultural productivity in the Caribbean was very weak. In order to achieve significant growth in economic sustainability during the 1950s and 1960s, Lewis suggested that the political economies of the Caribbean adopt the capitalist economic model of industrialization by invitation. However, the Caribbean was not able to do this on its own, as argued by Thomas (1998), Benn and Manley (2004), who argued that "these economies were characterized as weak and dependent and controlled by stronger foreign states and institutions.” .” Therefore, the Caribbean should seek financial assistance in the form of investments that would boost the industrialization process. Lewis, who was the intellectual genius behind the theoretical construction of industrialization by invitation, assumed that this model would allow the simultaneous development of the agricultural and industrial sectors. . Industry would absorb surplus labor from agriculture, thereby leading to productivity and improved living standards, on the assumption that there would be an increase in demand for manufactured goods even if out of survey...... middle of paper .... ....and development alternatives in the Caribbean. London: Zeb Books. Griffith, W. (1991). Lewis and the industrialization of the Caribbean: politics, theory and new technologies. Girvan. N & Jefferson, O. (Readings in the Political Economy of the Caribbean Rose, E. (2002). Dependency and Socialism in the Modern Caribbean: Superpower Intervention in Guyana, Jamaica, and Grenada. Lesington Books. Levitt, K . & Best, L. (1975), 'Character of the Caribbean Economy', in George L. Beckford eds, Caribbean Economy, Kingston: Institute of Social and Economic Research. Industrial Policies in Barbados: Report prepared by Daniel Artana (FIEL) , Sebastian Auguste (FIEL) and Andrew Downes (SALISES), December 2008.www.eclacpl/publicaciones/xml7/23587/l.68pdf (Thomas (1998), Benn & Manley (2004) Karagiannis () Klak (2008) .Kohen and Kennedy