IF EVER there were a time when Caribbean economies and societies were under threat, it is now. But what makes this threat particularly troubling is that it makes one genuinely question, perhaps for the first time, the political systems in the region, particularly the contrast between those with independence and those without. Of course, the issues involved in any such evaluation are way beyond an article that has a word limit of 650 words.There is however no doubt that the attainment of independence was more about psychological emancipation than the pursuit of economic self-reliance, since the latter may be compared to leaving home after one reaches a certain age and one is therefore expected to fend for himself. So if we embark on a path to independence, then we must be able to earn to match our new found expectations, and failure to earn creates major threats for us in maintaining our previous lifestyle, far less exceeding it. Real independence really connotes much more than a sense of freedom, it brings with it a sense of responsibility to the extent that our expectations must bear some relationship to our capacity to meet them.It is quite possible to have freedom and not be able to enjoy it, since freedom comes at a price notwithstanding the absence of a market in which it can be traded. It is only traded in the sense that it has an opportunity cost, that is to have it you have to forego something else. In our pursuit of independence, we are free to make all the decisions along with paying all the bills. If we are rational then they ought to be no collision between our decision-making and the paying of bills, once we are earning and living within the constraints of what we earn. This line of reasoning is much easier for an individual to pursue.The equation becomes much more complicated when other variables are added and in the case of a country, add political expectations and it is not only complicated but compounded by greed. Greed is all about preferring more even when it is not needed; and this creates a tide of expectation, self at the centre. Unfortunately, in the political arena such behaviour is tolerated as it is consistent with self-interest, which is the trigger for dividing expectations and so establishing political camps. The next step is competition based on expectations.Multiply the household by thousands and then divide them into camps, after adding an individual or two to the person who left mummy’s home in pursuit of independence, to appreciate the magnitude of the problem in matching new found expectations with self-interest in an environment, where competition, not cooperation prevails. For good measure, try to bring together different societies and economies under the umbrella of economic integration, functional cooperation and foreign policy coordination, to achieve a collective independencec where country-interest is paramount.If the household has to incur unsustainable debt to pursue its expectations and the country is an amalgamation of the households, then it cannot escape the debt trap to meet the societal expectations. The real issue for the country is: what is the path that allows enough opportunities for the households to grow their way out of the unsustainable debt, while changing their expectations? Further imagine the absence of leadership given the current realities and it makes one wonder about the future. The threat is unprecedented because it speaks to our independence or lack thereof.  • Clyde Mascoll is a professional economist and former Government minister in the last Barbados Labour Party administration. Â
