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The Upside Down Economy

1997 (25:00 mins) Island Topics #11 Economics Government

A Micronesian leader once compared the FSM economy to a turtle on its back, its feet kicking in the air, but going nowhere.  For years the economy in the islands has been upside down.  The foreign subsidies that supported an expensive government structure has, in turn, created a small private sector consisting of service industries.  This video explores problems with the upside down economy and what it might take to turn it right side up.  The industries that Micronesian leaders have counted on as basic props for the economy are fishing, agriculture, and tourism.  The video looks at each briefly to assess its potential contribution to building a healthy economy.



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