ABSTRACT
This conclusion presents some closing thoughts on the key concepts discussed in the preceding chapters of this book. The book deals with economic development in Jamaica during the period 1962-1984 with particular emphasis on the behaviour of the government. It presents some basic results pertaining to cost-minimizing collection of revenue and analyses how a cost-minimizing government reacts to an exogenous change in the structure of collection costs and how the allocation of resources is affected by the consequent changes in tax rates. The book discusses the search for revenue led to increased taxes being implemented in the sectors producing tradeable goods. It analyses the relations between private and public savings. The book demonstrates the import substitution policies implemented made the situation in small-scale agriculture deteriorate and improved the situation in the public sector. It analyses the effects of public expansion within the frame of a three-sector model.
