The Rasheed Griffith Show

Send us a textNavigate the Barbadian political landscape with Rasheed Griffith and CPSI Podcast Producer Shem Best. In this episode, we discuss the evolution and decline of governance on the island, starting with one of its most prolific Prime Ministers, Owen Arthur. What tipped the scales for the David Thompson administration's rise after over a decade of BLP rule? What disastrous decisions paved the way for Mottley's landslide victory in 2018? Barbados' Westminster-style government structure has created one of the world's most stable democracies with over three centuries of an uninterrupted parliament  (the 3rd oldest in the Western Hemisphere). However, its two-party arrangement has also generated predictable levels of stagnation throughout all levels of leadership which can result in knee-jerk reactions from the electorate, easily swayed by domestic and international pressures.  We explore milestones in industry and policymaking that have produced one of the most tumultuous political environments the island has experienced since the early years of independence. From self-harming fiscal and monetary legislation to the resulting physical deterioration of the island's infrastructure and the compounding shocks of international events, join us in this two-part series on how the Gem of the Caribbean lost its luster. (All over afternoon tea)

Send us a textWhere does Caribbean tech infrastructure stand today? Join Cybersecurity expert Neil Harper as we investigate the slowdown in innovation and standards adoption that could further erode the region's competitiveness and digital integrity.  Could 5G benefit the Caribbean? Neil says yes, outlining the surface benefits of the latest in cellular data technologies and how they could provide resilience in a disaster-prone region. 5G offers the opportunity to bolster telecommunications infrastructure with a smaller footprint that is less susceptible to natural phenomena like hurricanes.What about security? The Caribbean has become a breeding ground for nefarious cyber activity, owing to a failure to adopt more stringent policies to protect its citizen's data. With the digitization of entire industries underway, a more systematic and meaningful approach to how information is handled, both at the business and legislative levels, will be required.

Send us a textWhat lessons can we learn from the current tech regulation climate in the United States? CPSI Director Shane Glynn joins us for a great discussion on efforts to reign in the juggernauts of the technology sector and the market factors driving the latest wave of scrutiny over household brands like TikTok and Amazon.The Caribbean may not be a major player in global information and technology, but it is a notable customer and beneficiary. Social media proliferation in the region facilitates the dissemination of news and politicians have jumped on the latest trends to reach a younger and more socially active electorate. Facebook, WhatsApp, Instagram, and TikTok allow ideas and movements to propagate throughout the region in mere seconds. The importance of these platforms has not gone unnoticed by US regulatory bodies. The courts argue that the ubiquity of these public forums has crossed the threshold for which they can operate without increased oversight. In the case of TikTok for example, the geopolitical tension between Washington and Beijing has brought the popular video-sharing network within the crosshairs of Congress. Shane discusses the broader implications of recent congressional hearings and the shift it could cause in the greater regulatory landscape. America's competitive and technological edge is often said to be driven by its open markets and de-regulatory practices. A leader in innovation and information access, The U.S. is powered by a thriving tech sector that largely functions without the fear of government incursion. But could this edge be dulled by a renewed focus on censorship?  What could this increased oversight mean for privacy, free speech, and accessibility for the satellite regions of the Caribbean and greater Americas?  

Experts discuss the technical steps needed to implement dollarization in Argentina, including determining the equilibrium rate and converting bank deposits to USD. Suggestions are made to address central bank insolvency using special financial instruments. The importance of implementing these measures gradually and in conjunction with other reforms is emphasized.

Send us a textCitizenship by Investment or CBI programs tend to get a bad rap due to the misconceptions surrounding how they work and how they came to be. Dr Kristin Surak shares some valuable insights on the origins of "passports for sale" and goes into more depth on the true meaning of citizenship through the eyes of the people and the state. Several islands in the Caribbean offer prominent CBI opportunities. It is estimated that more than 40% of Dominica's government revenue is derived from their own CBI program, financing wide-scale infrastructure projects across the island, such as additions to their green energy generation and a new international airport. To truly understand the lucrative nature of CBIs, we'll explore the historical context behind their inception, the motivations behind those who invest in these programs, the suppliers involved, and the complexities of successfully executing such a multifaceted process. A passport may not necessarily mean citizenship.  Dr. Surak posits that to grasp the motivations behind CBIs, a better understanding of modern state and personhood concepts is required - what exactly does a foreign passport offer, and how does it differ from the perks of naturalization?The history of CBI programs also sheds light on the driving factors behind their persistence. For example, Hong Kong's handover to China fueled much of the initial success of many CBI programs in the Caribbean and Canada. A passport can be an assurance or fail-safe against government-induced insecurity, evident by the number of Hong Kongers who took up the offer. But are these programs also a backdoor for unsavory individuals to bypass global restrictions? Not necessarily. The screening process for many of these programs is vigorous, even more so than Visa approval from countries like the USA. Bad apples are not unheard of, but this is not an indictment on the industry as a whole.These programs are the lifeblood of several smaller economies and are a legitimate source of revenue for vulnerable small island states. The question should not be if CBIs are harmful because they aren't, but how best they could be utilized to enable development in the countries that rely on them. 

Should Canada dollarize? Sovereign debt as risk-free? Monetarism's relevance. John Cochrane & Rasheed discuss macroeconomics core themes & financial tools for economic stability and growth.

Send us a textIf you were asked to rank cities based on their level of libertarian policy implementation, it is very unlikely that at the top of the list, you would intuitively put Madrid. Of course, liberalism, classical liberalism, libertarianism, or capitalism are not usually thought of as being abundant in European cities.  But on today's episode, we are going to be discussing with Diego Sánchez de la Cruz his newest book, "Liberalismo a la Madrileña" (Madrid-style Liberalism). How and why Madrid has become the region in Spain that grows the most, generates the most income, offers the best public services, collects the most, and lowers the most taxes.  Madrid achieved all of this while implementing the most radical liberal reforms in any European city in the last 15 years.  How exactly did Madrid become the Capital of Capitalism in Spain?Book LinkLiberalismo a la Madrileña, Diego Sánchez de la Cruz

Send us a textFormer Minister of Finance Manuel Hinds joins us for an eye-opening account of how El Salvador dollarized. We get down to the nitty-gritty of monetary policy and prudent governance in what should serve as a poignant lesson for the Caribbean region. Dollarization in Latin America is back in the economic headlights. The policy is simple. Encourage the use of US dollars as a unit of an account in a country other than the USA to aid the fiscal stabilization and long-term growth of that country, yet from all corners, you have professional economists slinging unjustified objections to dollarization.Always in these cases, they never gave actual examples of countries that have dollarized. How did they do it? What happened on the ground? What were the empirical results? Instead, they retreat into abstract theorization. Through this discussion based on the world as it is, and not mere abstraction, it can be seen that dollarization is a simple, elegant, and powerful policy that any economy in Latin America and the Caribbean should adopt.

Send us a text

Send us a textTalent will make or break a band, a company, and even a country. We're joined by Dr Collin Constantine to explore the requirements for successful growth, primarily in the context of Guyana, the region's potential rising star economy. Does Georgetown possess the necessary talent to bolster its social and political institutions or will they languish beneath a wave of uneven wealth distribution, similar to the likes of West African oil states?Guyana's political history and economy are in a complicated state of disrepair.  Racial and class tensions have resulted in unsteady leadership as various interests jostle for control at every level of government. Collin argues that an influx of fortunes from the recently discovered oil reserves could widen the divide. Will Guyana's newfound financial weight create a unifying voice within the union or further exacerbate its irrelevance? CARICOM's viability and utility have been brought into question, with Jamaica even threatening to abandon the initiative at the turn of the decade. A shift in power to any single state could undermine the balance and dynamic of the Caribbean Community. What about the local currency? Surely the government would seek to address a weak Guyanese dollar given its nascent energy sector, poised to bring significant foreign exchange to the country. Dr Constantine explains that while the local currency should be replaced with USD it will be a mainstay for the foreseeable future. The coming decade will be an interesting period of development for Guyana and the greater Caribbean region.