Tag Archives: economy

In 1942, Austrian economist Joseph Schumpeter coined the term ‘creative destruction’. It describes a process where innovative products, technologies, and business models continuously replace outdated ones. New firms and jobs are created, and old ones die. In Trinidad and Tobago, we experienced creative destruction in the past century. Sugar (and …

“[…] We are losing hope in the ability of our economy to provide good jobs for us. A smaller share of the working age population has been participating in the labour market. “[…] The decline is largely driven by falling male participation from above 80% to just above 60%. Female …

“[…] For neighbouring countries [of war sites], output falls by 10% on average after five years while inflation rises by five percentage points over the same period. “These results should be particularly concerning for Trinidad and Tobago […] because we are not like the average country in the Kiel Institute …

“Budget 2026 is a declaration that Trinidad and Tobago is back on course… When UNC wins, everybody wins!” Minister of Finance, Davendranath Tancoo. The desk thumping and back slapping in response to the Budget delivery reminded me of the declaration by US President George Bush in 2003. After six weeks …

“[…] Yes, the tone of the budget is firm and unapologetic. It calls out past failures and demands accountability. Some may find that harsh, but others will see it as necessary. “[…] This budget speaks to real people. It offers relief at the gas pump, in the pharmacy, in the …

“[…] The Ministry of Finance website provides budget statements from 2002 onwards. Diversification is mentioned in each budget statement. All 23 years. Undoubtedly, diversification will feature in Budget 2026 when it is read in the coming weeks. “[…] This is not to say that there have been no changes since …

“[…] Please do not incur excessive debt to fulfil campaign promises or popular votes. Continuous deficit financing and public debt that balloons uncontrollably will undermine investor/lender confidence, reduce cash flow and impact generational wealth. Everybody must win. “[…] Madame Prime Minister 2.0, it is clear that if T&T achieves its …

As primary school children, we would have learnt a poem by John Keats. “There was a naughty boy/ And a naughty boy was he,/ He ran away to Scotland/ The people for to see–/ Then he found/ That the ground/ Was as hard,/ That a yard/ Was as long…” This …

“[…] Basic economic theory does not always manifest in practice—in fact, it rarely does. To understand if or by how much exports/imports change requires an understanding of how responsive exports/imports are to price changes. This is called elasticity in economics. “[…] Alongside this, the constantly changing geopolitical environment must be …

On 4 April 2025, then Caricom head Mia Mottley, in discussing the global crises as they impacted the Caribbean, said: “Our world is in crisis. I will not sugarcoat it. These are among the most challenging of times for our region since the majority of our members gained their independence. …

A few weeks ago, I had the opportunity to speak with two truly inspiring members of the Cocoa Research Centre (CRC) at The UWI: Professor Pathmanathan Umaharan, its head, and Dr Darin Sukha, its food technologist. I met them 16 years ago, when I started working at the university as …

I am no prophet. I would not attempt to replicate the famous BC Pires, who used to write a column with predictions for each new year. He noted: “Some of my predictions are included only to make you laugh; the others are deadly serious and, if accurate, will make anyone …