The Plantation Economy and Guyana’s Extractivism

Abstract

The Plantation Economy school of thought has been somewhat absent from mainstream discourse surrounding development despite offering a critical lens to understand the Caribbean region's historical and contemporary economic conditions. This paper examines the extent to which Plantation Economy scholarship can explain the current production structure of Guyana's extractive oil and mineral industries. This is demonstrated through a historical recapitulation of the Plantation Economy’s theoretical underpinnings, situates the pertinent particulars regarding Guyana’s extractive industries and highlights the lack of inter-sectoral linkages, significant exploitative ownership agreements and skewed export dynamics that exist. The intention is to spark a resurgence in Plantation Economy scholarship, especially since its relevance remains as vital as ever in addressing the region's structural barriers to economic development.

Keywords

• Plantation Economy
• Guyana
• Extractivism
• Production Structure
• Economic Development