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This important book provides a fascinating insight into the conceptual under-pinnings of the theory of plantation economy initiated by Lloyd Best and Kari Levitt in the 1960s as a basis for analysing the nature of the Caribbean economy. While acknowledging an intellectual debt to Latin American structuralists and also to the work of Dudley Seers and William Demas, the authors develop an original and innovative analytical framework as a counter to more "universalist" models which failed to take account of the Caribbean reality.
Their work identifies the main features of the plantation economy as a hinterland characterized by subordination and dependency on the dominant metropole. Distinguishing between hinterlands of conquest, settlement and exploitation, Best and Levitt analyse the rules that determine this complex relationship with the metropole. Their economic theories are presented against a background of the historical factors that gave rise to the "structural continuity" of Caribbean economies and which now impede meaningful structural transformation.
List of Figures vii
List of Tables ix
Preface xi
Foreword Plantation Economy in the Age of Globalization Norman Girvan xvii
Chapter 1 On the Teaching of Economics Lloyd Best 1
Chapter 2 A Historical and Institutional Approach to Caribbean Economic Development Lloyd Best and Kari Levitt 9
Chapter 3 Outline of a General Theory of Caribbean Economy Lloyd Best and Kari Levitt 19
Chapter 4 Revised and Expanded Model of Pure Plantation Economy Lloyd Best and Kari Levitt 41
Chapter 5 An Ideal-Type Accounting Framework for Plantation Economy Further Modified Lloyd Best and Kari Levitt 121
Chapter 6 A System of National Accounts for Trinidad and Tobago Kari Levitt 179
Chapter 7 In Search of Model IV Kari Levitt 189
Chapter 8 Critical Review of the Contributions of W.A. Lewis and Dudley Seers to Issues of Industrialization and Employment in the Caribbean Lloyd Best and Kari Levitt 197
Selected Bibliography 233
Index 243
Overview
This important book provides a fascinating insight into the conceptual under-pinnings of the theory of plantation economy initiated by Lloyd Best and Kari Levitt in the 1960s as a basis for analysing the nature of the Caribbean economy. While acknowledging an intellectual debt to Latin American structuralists and also to the work of Dudley Seers and William Demas, the authors develop an original and innovative analytical framework as a counter to more "universalist" models which...