Life and Debt details the struggle of Jamaicans to develop a sufficient and independent economy as they chart the course in their attempt to recover from the globalization that has taken over their markets. Globalization, as depicted by the film's producers, is the condition in which multinational countries began to dominate Jamaica's markets. Once a largely agricultural-based economy, Jamaica now suffers from excessive and cheap imports from various countries, notably the United States. Its producers, the farmers, have been squeezed out of their own country's market, due to trade deals as well as loan contingencies. Fields once devoted to dairy, crops and fresh produce are now barren lands, filled with abandoned houses and unsown acreage. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Should Not Be Banned"? Get the original essay The start of Jamaica's economic fallout began with the energy crisis of the 1970s. In order to pay for these rising costs, the Jamaica turned to the IMF and the World Trade Organization, the only organizations willing to lend money. In 1977, former Prime Minister Michael Manley signed the first loan agreement, allowing the IMF and World Bank to become fully involved in the development, or lack of development, of the economy and social policies of Jamaica. Once the IMF had Jamaica in its clutches, it was able to control the country's every move. The energy crisis of the 1970s had a particularly severe impact on Jamaica due to its relatively recent exit from colonization by Great Britain. With the economy already in a vulnerable state, it didn't take much to tip them into seemingly unmanageable debt. Jamaica originally had a long-term development plan that would have increased infrastructure and utilized natural resources. The IMF, however, was more interested in the short-term use and repayment of the loan, requiring rapid repayment for large amounts. With the loan and agreements in place, the IMF was able to demand budget cuts in sectors of the Jamaican economy such as education, health and financial support for locally grown and harvested produce. On the way to one of the resorts, a dilapidated building is shown, described and presented as a public latrine. Surprisingly, it is actually one of the few schools in Jamaica. Due to education budget cuts, school and academics are no longer allowed to be a priority, with students now falling well behind national standards. Workers must pay education taxes and health premiums. However, these taxes are not used to improve the country, but lead nowhere. One of the hardest hit sectors in Jamaica has been the agricultural market. Formerly populated by local farmers, the markets are now occupied by imported products. Farmers who had been relatively prosperous were now struggling to make ends meet due to the forced importation of produce from other countries. The IMF ordered the cancellation of all protectionist measures such as tariffs, embargoes and trade agreements, eliminating any ability to give local markets a chance to compete with developed and prosperous countries. The IMF even went so far as to impose interest rates on local farmers, imposing rates of around 23%, significantly higher than what a.