The term ''globalization'' is so tinged with rosy one-world optimism that it's easy to assume the essential benignity of an economic philosophy whose name vaguely connotes unity, equality and freedom. But as Stephanie Black's powerful documentary LIFE AND DEBT (2001, 80 min) illustrates with an impressive (and depressing) acuity, globalization can have a devastating impact on third world countries. The filmmaker looks at the effects of globalization on Jamaican industry and agriculture.