MicSem Special Features

MicSem By Category: ECONOMICS

Video Listings

Our Distant Relatives

Francis X. Hezel S.J.

May 20, 2019 ECONOMICS HEALTH

Land: Investing in Our Future

Francis X. Hezel S.J.

May 20, 2019 ECONOMICS LAND ISSUES

The Upside Down Economy

Francis X. Hezel S.J.

May 20, 2019 ECONOMICS GOVERNMENT

The Missing Micronesians

Francis X. Hezel S.J.

May 20, 2019 COMPACT ECONOMICS MIGRATION

Micronesians Abroad

Francis X. Hezel S.J.

May 20, 2019 ECONOMICS MIGRATION

Micronesian Counselors

Swimming with the Tide

Francis X. Hezel S.J.

Island development today could learn from the past: the importance of trading partnerships and self-enforced contracts.

November 28, 2020 BUSINESS ECONOMICS

Sustainable Human Developement in Micronesia

Francis X. Hezel S.J.

A review of the economic situation and of development possibilities in the future.

November 28, 1998 ECONOMICS

Here's Where We're Headed. Which Way Should We Be Going?

Francis X. Hezel S.J.

A review of what the numbers say about the directions of the Micronesian governments.

November 28, 2020 ECONOMICS EDUCATION GOVERNMENT

Insuring Our Health: Financing Health Care in the FSM

Francis X. Hezel S.J.

How to fashion an insurance program that will relieve the government’s heavy burden of medical costs.

November 28, 2020 ECONOMICS HEALTH

Feast and Famine: US Assistance and the Compact Funding Outlook

Francis X. Hezel S.J.

US funding assistance to FSM for the next two years and the Compact funding outlook.

November 28, 2020 COMPACT ECONOMICS

Spoiled Tuna: A Fishing Industry Gone Bad

Francis X. Hezel S.J.

Review of the recent history of the fishing industry in FSM and impact of the losses on the country.

November 28, 2020 ECONOMICS

Rough Seas Ahead: The FSM Economy During Compact II

Francis X. Hezel S.J.

A forecast of FSM’s economic future for the next twenty years and beyond.

November 28, 2020 COMPACT ECONOMICS

A Tuna Industry in Micronesia?

Francis X. Hezel S.J.

The case for launching a large fishing industry in the islands despite a long list of past failures.

November 28, 2020 BUSINESS ECONOMICS

Myths of the FSM Economy

Francis X. Hezel S.J.

The article challenges seven popular beliefs about the economy of FSM.

November 28, 2020 ECONOMICS

The Clam Industry in the Marshalls

Francis X. Hezel S.J.

History of the clam industry and the problems encountered along the way.

November 28, 2020 BUSINESS ECONOMICS

The Role of Culture in Economic Development

Francis X. Hezel S.J.

The playing field is not level when it comes to economic development, for cultural values and attitudes give some societies a head start.

November 28, 2020 CULTURAL ECONOMICS

Micsem Discussion

After The Compact, What Then?

Francis X. Hezel S.J.

What will the FSM Government do to promote economic development and self-reliance before the end of the Compact funding period?

November 10, 1993 ECONOMICS GOVERNMENT

What's the Fishing Industry Doing for FSM?

Francis X. Hezel S.J.

Comparative look at benefits from fishing rights fees and the local fishing industry in FSM

September 08, 1993 ECONOMICS GOVERNMENT

Economic Development in Yap

Francis X. Hezel S.J.

Reconciling the need for economic development with social change in Yap.

October 06, 1990 ECONOMICS

Revenue Sharing Between the States and National Government

Francis X. Hezel S.J.

Revenue sharing may be needed in view of the states' financial problems.

March 19, 1997 ECONOMICS GOVERNMENT

The YTK Proposal and the Future of Fishing in Pohnpei

Francis X. Hezel S.J.

Japanese proposal to establish a large fishing industry on Pohnpei may threaten other fishing interests.

February 13, 1997 BUSINESS ECONOMICS GOVERNMENT

What Can We Do to Promote Private Business

Francis X. Hezel S.J.

Exploration of ways in which the private sector in the economy could be helped to expand.

January 26, 1994 BUSINESS ECONOMICS

The FSM Foreign Debt

Francis X. Hezel S.J.

Explores the current status of foreign investment and debt in FSM

October 12, 1994 ECONOMICS GOVERNMENT

Is There a Place for Foreigners in Micronesia Today?

Francis X. Hezel S.J.

How can foreigners be integrated into Micronesian society better than they are at present?

April 13, 1994 ECONOMICS GOVERNMENT

Books

On Your Mark, Get Set... Tourism’s Take-Off in Micronesia

Francis X. Hezel, SJ

When Continental Air Micronesia inaugurated regular jet air service to the Trust Territory in the late 1960s, it opened commercial possibilities for islands then struggling with an uncertain political and economic future. Tourism became a distant hope as an engine for economic growth. In 1970, Continental built three new 50 room hotels in Chuuk, Palau, and the Northern Marianas and began vigorously promoting the islands as a Pacific paradise getaway destination. What happened over subsequent decades in these three island groups is the subject of this study. It offers lessons for other island nations hoping for a tourism boom today.

When Continental Air Micronesia inaugurated regular jet air service to the Trust Territory in the late 1960s, it opened commercial possibilities for islands then struggling with an uncertain political and economic future. Tourism became a distant hope as an engine for economic growth. In 1970, Continental built three new 50 room hotels in Chuuk, Palau, and the Northern Marianas and began vigorously promoting the islands as a Pacific paradise getaway destination. What happened over subsequent decades in these three island groups is the subject of this study. It offers lessons for other island nations hoping for a tourism boom today.November 28, 2020 BUSINESS ECONOMICS

Truk Underwater Archaeology

By Francis X. Hezel, S.J., and Clark Graham

The sunken Japanese fleet in Chuuk has become a world famous diving attraction for scuba enthusiasts. The sunken ships, bombed during the US counteroffensive against Japan in 1944, constitute a museum and a valuable asset for the Federated States of Micronesia. This book is an introduction to this museum, as well as to the events that produced the museum and the efforts that have made to preserve it from the depredations of humans and nature.

November 28, 1997 ECONOMICS HISTORY

articles

Pacific Island Nations: How Viable Are Their Economies?

Francis X. Hezel S.J.

Are Pacific Island nations waging a losing battle in their attempt to create self-supporting economies?

Pacific Islands Policy No. 7, Honolulu: East-West Center, 2012. 33 pp.November 28, 2020 ECONOMICS

Is That the Best You Can Do? A Tale of Two Micronesian Economies

Francis X. Hezel S.J.

Evolution of the economies of FSM and the Marshalls over forty years and our expectations for self-reliance.

Pacific Islands Policy, Vol.1, Honolulu: East-West Center, 2006.November 28, 2020 ECONOMICS

The Micronesian Dilemma: How to Support Expensive Habits and Still Run the Household

Francis X. Hezel S.J.

Is the new affluence of the islands putting the hope of independence beyond reach?

Journal de la Societe des Oceanistes, Paris, 1976: 110-121. Also published in: South Pacific Dossier, edited by G. Woods, Canberra: Australia Council for Overseas Aid, 1978. November 28, 1976 ECONOMICS

Micronesia: Ten Years After

Francis X. Hezel S.J.

Micronesia’s real poverty consists in the affluence that could diminish its national pride.

 Impact, Vol. 11, No. 1, 1974: 436-438.November 28, 1974 ECONOMICS

Reflections on Micronesia's Economy

Francis X. Hezel S.J.

Data on employment, wages, education, and imports shows the islands moving away from self-reliance.

Micronitor, Majuro, 29 April 1973: 1-2. Also published as: “Unholy Mackerel and the Almighty Buck.” Friends of Micronesia Newsletter, Vol. 4, No. 1, 1974: 15-19. November 28, 1973 ECONOMICS

The Creation of a Colony: The Paradox of Economic Aid to Micronesia

Francis X. Hezel S.J.

Trends of a larger US subsidy during the 1960 might lead to permanent colonial status of Micronesia.

Unpublished. 1968.November 28, 1968 ECONOMICS

Let's Have the Meal Today Rather Than the Fishing Industry Tomorrow

Francis X. Hezel S.J.

Local governments are perpetuating the old habits of spending for consumption money that could be used for economic development.

Marianas Variety, 6 November 1987. Also published as: "Back to TT ‘Pork Barrel’ Days." Marshall Islands Journal, 30 October 1987; Journal of Pacific Society, No. 39, July 1988: 10-12; Tok Blong SPPF, No. 26, January 1989: 8-10.November 28, 1987 ECONOMICS

A Brief Economic History of Micronesia

Francis X. Hezel S.J.

History of the cash economy through the colonial period to the end of trusteeship with figures and tables of exports and imports.

Past Achievements and Future Possibilities, Majuro: Micronesian Seminar, 1984: 11-62.November 28, 1984 ECONOMICS

Yesterday's Myths, Today's Realities

Francis X. Hezel S.J.

The old dreams of self-reliance are yielding to the demands for more jobs and consumer goods.

America, 24 May 1980, 434-7. Also published in: Honolulu Advertiser, n.d.November 28, 1980 ECONOMICS

The New Formula for Self-Reliance

Francis X. Hezel S.J.

Islanders today have come to believe that self-reliance does not require any cutback in lifestyle or the flow of money into the islands.

Marianas Variety, 5 July 1979. Also published in: Glimpses, Vol. 19, No. 4, 1979: 12-14; Pacific Perspective, Vol. 8, No. 2, 1980: 33-36; “La nouvelle formule de l’autonomie.” Perspectives du Pacifique, Port Vila, 1983: 31. November 28, 1979 ECONOMICS

Taking the Long View

Francis X. Hezel S.J.

The immediate pay-off often blinds people to the long-term social, economic or political effects.

Micronesian Independent, 11 March 1977. Also published in: Carolines Observer, 25 March 1977; Review for Religious, Vol. 36, No. 5, September 1977: 695-700.November 28, 1977 ECONOMICS

An Overview of the FSM Economy

Francis X. Hezel S.J.

A forecast of FSM's economic future for the next twenty years and beyond.

Unpublished. 7 November 2002November 28, 2020 ECONOMICS

Examining the consequences of the Money Economy in the Pacific

Francis X. Hezel S.J.

If a growing economy will produce social changes, islanders should anticipate these consequences when making economic choices.

Unpublished. 16 June 2001November 28, 2020 ECONOMICS

Sustainable Human Development in the Federated States of Micronesia

Francis X. Hezel S.J.

Overview of political, social and economic conditions in FSM.

Micronesian Seminar, Pohnpei March 1997. 104 November 28, 1997 ECONOMICS