The Washington Post incorrectly identified Jamaica's socialist People's National Party as the People's National Liberation Party in a story in yesterday's editions.

Newly elected Jamaican Prime Minister Edward Seaga says he expects his country to get along better with a Reagan administration than it did with the Carter White House, especially on economic matters.

"I would not like to make odious comparisons" between Carter and president-elect Ronald Reagan, Seaga said on "Face the Nation" (CBS, WDVM). "I would think that our own economic thinking would be more in concurrence with the economic principles of the Reagan administration in terms of encouragement of private enterprise and . . . the principle of reward for private initiative."

Seaga did not say exactly where he believed Carter administration policy failed his and other Caribbean countries. Instead, he chose to emphasize the incoming Reagan administration's "glorious opportunity" to set things aright.

"We've always complained that there's never been a Caribbean policy -- that we've been treated as countries with beaches and beauty and, therefore, as [places] that don't spell trouble.

"We've complained that the giant neighbors of the Caribbean have never really taken us seriously."

But the Reagan administration is coming to power after a series of successful battles by conservative forces in the Caribbean to thwart the growth of communism in that region, said Seaga, who described his own election three weeks ago as a "very definite" rejection of communism.

"I think the Reagan administration has come to power at a very propitious time, when the Caribbean has taken a very decisive stand in terms of an ideological position," Seaga said. "The Reagan administration . . . has a glorious opportunity to make a good start in terms of formulating a policy" towards the Caribbean.

Seaga went immediately from the Saturday taping of the interview to meet with officials at the Reagan transition office in Washington.

The Jamaican election was marked by constant political violence in which 700 persons reportedly were killed. The losers in that race were incumbent Prime Minister Michael Manley and his socialist, pro-Cuban People's National Liberation Party.

Seaga said in his interview that he would not seek reprisals against the PNP, which has been accused of sparking much of the violence.

"We have told the workers and the supporters of the People's National Party that they have nothing to fear from us," Seaga said. He said "shootings and killings" in Jamaica have fallen by 50 percent since the election, and the country's new enforcement officials are working to further reduce the violence.

But Seaga conceded that his lawmen are having a hard time controlling another crime: production and exportation of marijuana. The illegal business, in fact, has been good for the country's financial health.

"It has almost been the lifeline, economically, in providing dollars and foreign exchange which the bank of Jamaica could not provide," Seaga said of the marijunana trade.