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October 2015
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Roxanne Brizan-St. Martin, an Instructor in the Department of Economics, talks about Professor Theodore and his drive to create a culture of efficiency in our Caribbean economies. Quoting from Sir Arthur Lewis, Professor Karl Theodore believes that “good economics begins with a concern for the conditions under which people live.” For him, economics is meant to serve society by examining factors that affect the welfare or quality of life of the population – issues of efficiency, effectiveness and equity. This concern for people, and the conditions under which they live, inspired his interest in developmental initiatives in the region, particularly as it relates to health, and public and fiscal policy. He saw the reality in the region as one of “fiscal sensitivity.” Simply put, when the government experiences hard times, the system suffers. In his opinion, addressing hard times does not necessarily mean more funds but, rather, finding innovative ways of maximizing resource efficiency and effectiveness. It is about “creating a culture of efficiency.”
“The calibre of health systems,” he said, “is being severely threatened by the universality requirement embodied in the drive to universal health coverage as well as by the response to the Chronic Non-Communicable Diseases.” There is a need for health reform. That is, a purposeful and fundamental cultural change that effectively links sustainability and efficiency with an appropriate financing mix and policy formulation. |