Private enterprise, not political action, is the key to tackling unemployment and boosting economic growth in the Caribbean, a leading economist in the region has said.Writing in the Caribbean Journal, former Minister of State for Finance with the Government of The Bahamas, Zhivargo Laing, identified unemployment as the region’s “most serious challenge”.“Many thousands of our people are unemployed. Thousands more are underemployed. And many thousands more are fully employed but faced with the triple burden of too much debt, rising taxes and a rising cost of living. All of the above are facing little prospect of relief in the near to medium term.“This is the real Caribbean challenge,” he wrote.“Crime, illegal immigration, regional integration, climate change, as important as they are, pale in comparison to this very practical challenge faced every day by too many Caribbean nationals.”But in echoes of recent arguments by Bermuda’s Opposition Leader Marc Bean, Mr Laing insisted that political leaders cannot meet the job creation challenge and called for a “new wave” of private enterprise “creativity and ingenuity”.“Truth be told, while political leaders love to take credit or are given credit for the economic performance of their countries, particularly when employment and incomes are rising, they probably account for less than one third the reason for it.“Fiscal and monetary policies which do not hinder private enterprise tend to be politicians’ most helpful role. Political actions which do help are those which support social policies, boosting education, training and healthcare assistance as well as infrastructural development.“These are political actions that directly promote economic growth and development. However, such forward-thinking policies seldom manifest results in a single political term.”He continued: “So, where will the masses of unemployed, underemployed and stressed out fully employed find relief?“The massive relief will come if and when Caribbean private enterprise finds a new wave of creativity and ingenuity to provide new or better products and services with which the world becomes enamoured.”Mr Laing noted, however, that a Caribbean business revival would depend on a similar revival in the international business community because of the region’s dependence on international trade and doubted that the expansion would occur in the medium term.He urged the unemployed to be “diligent in their job search” and “try to join the ranks of the enterprising, for nothing breeds creativity like necessity.“It is possible that some of the creativity and innovations that will bring relief rest in their own bosoms. Accept the present challenge of their circumstances mindful that things do change; for now, make the adjustments for which the present moment calls.”And Mr Laing had some pointed advice for politicians.“Now is probably a good time to own up to the limits of your power and have one of those heart to heart talks with your constituents.”He said: “It is a daunting task to provide jobs for the thousands unemployed and the thousands more underemployed. It is a heavy burden to bring relief to many thousands more fully employed but faced with the aforementioned triple burden of too much debt, rising taxes and rising cost of living.“Daunting though it may be, this challenge belongs to those who stepped forward for leadership and those they lead; and nothing short of deliberate collective and diligent action will meet it.”