Why GDP growth is an incomplete measure of economic development
Many Jamaicans have often expressed that they do not feel the tangible effects of the “supposed” unprecedented economic growth and resilience occurring in the country. The theory goes that financial benefits given to big business will pass down to smaller businesses and consumers, the so-called, “trickle-down effect”. In economics, the trickle-down effect refers to the rapid gains from overall economic growth which, over time provide benefits to the general public in the form of either jobs or economic opportunities.