Part 2
The previous column argues that old-fashioned textbook Keynesian macroeconomics, in terms of budget stimulus, will not be very effective in a country like Guyana that exports most of what it produces and imports a large percentage of what it consumes. A version of the last sentence was invented by Prof Clive Thomas back in the late 1960s. It implies that government stimulus is more likely to boost demand for imports and scarce foreign exchange than domestic production.
The aspect of domestic production that will be stimulated would be non-tradable goods and services such as haircuts and general grooming, carpentry services, electrical services, entertainment, Banks beer, restaurant meals, bora and okra at the local market,
