It is no surprise the ineffectual debate about reducing the cost of living has resurfaced. As usual the country is beguiled by the usual talking heads whose commentary is crafted to fulfil political interest and reaffirm traditional economic theories.
However you ‘slice and dice’ the challenge facing Barbados to significantly reduce the cost of living, it cannot change the fact Barbados is a net importer of commodities. For those who will interject that tourism as a service generates significant revenue inflow, it is an industry with significant foreign ownership which dilutes earnings making its way onshore. Continue reading
