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Pushing Out To Sea: Creating a New FSM Economy

2003 (22:56 mins) Island Topics #38 COMPACT ECONOMICS

The canoe of the FSM economy has for many years floated on the tide of government salaries and external assistance. This has led to a consumption-based economy with little means for self-support. After the FSM gained independence in 1986, one of the major goals of the new government was to create a self-sustaining economy. This video takes a look at the FSM's attempts to build a working economy over the past 50 years, from the TTPI days through Compact I. It also outlines the upcoming Compact II and what steps the FSM needs to take in order to promote economic development. What can the FSM expect in terms of jobs, emigration, and Compact assistance over the next 20 years? What does the FSM need to do in order to push the canoe of the economy out to sea?

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