ECONOMICS – Micronesian Seminar

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.June 07, 2023 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.

June 07, 1997 ECONOMICS HISTORY

The Open Ocean: The Future of Foreign Aid in the Pacific

Tom Frink

Ways in which the small Compact nations might support themselves in the future.

Georgetown Journal of International Affairs, Mar 1, 2017 (on-line).June 07, 2023 ECONOMICS GOVERNMENT

The Case of Micronesia

Tom Frink

The major threat to the environment in the Pacific is the desperate need for economic growth.

In Just Sustainability: Ecology,Technology, and Resource Extraction, ed by Christiana Peppard and Andrea Vicini, S.J. (Maryknoll, NY: Orbis Books, 2015), pp 20-22.June 07, 2023 ECONOMICS ENVIRONMENT

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.June 07, 2023 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.June 07, 2023 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. June 07, 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.June 07, 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. June 07, 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.June 07, 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.June 07, 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.June 07, 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.June 07, 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. June 07, 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.June 07, 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 2002June 07, 2023 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 2001June 07, 2023 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 June 07, 1997 ECONOMICS