Indeed, the major strength of The Practice of Economic Management is the sheer amount of practical lessons that can be drawn from Blackman’s experiences as governor of the Central Bank of Barbados. The very success of the Barbadian economy derives from a willingness by policymakers to have a firm belief in their own economic prescriptions, even when they appear to be at odds with more orthodox economic theory.

The idea of not readily surrendering one’s own independence of economic thought is something to be admired. This is all the more true when, in retrospect, the decisions taken proved to be correct. Blackman’s book shows that policymakers need to have a thorough understanding of their own countries’ dynamics and interactions with the rest of the world. This is even more important when considered within the context of globalization and the increasing marginalization of small island economies.