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Why has Hawaii, from the times of Polynesian antiquity to the present, enjoyed the highest material standard of living in Oceania? How did changes in the social structure of pre-Cook Hawaii affect that standard? What happened to the islands' economy as western dominance took place, as land ownership was created, as technology was imported, as plantation workers immigrated, as World War II broke the social mold of the islands? These are some of the basic questions raised by Thomas Hitch in "Islands in Transition," the first book-length economic history of Hawaii to be printed in a generation. The book is divided into two sections. The first, "From the Record,"traces the development of Hawaii's economy from the moneyless, sharing, tribute, and barter system of the native culture to a plantation economy controlled from Honolulu and dominated by the Big Five. In the second section, "As I Saw it," Dr. Hitch describes the further development of Hawaii into a high-tech service economy, heavily based on tourism and military expenditures, increasingly involved in the multi-national global economy. He appraises the recent past and projects the future from the vantage point of his long career at Honolulu business community, first as director of research for the Hawaii Employers Council and then as Senior Vice President for Research at First Hawaiian Bank, until his death in August, 1989. This volume is written for the general reader, but appendices address questions of particular interest to economists and business analysts. These include measuring the cost of living in Hawaii, estimating the growth rate of the state economy, and appraising its sensitivity to the national business cycle.
"At the annual average rate of growth Hawaii experienced between 1959 and 1990, the size of the economy would double every 14 years. At the rate of growth experienced between 1991 and 1998, it would take 93 years for Hawaii's economy to double in size."--from the Introduction What happened during the decade of the 1990s that caused Hawaii's once full economic sails to deflate, leaving the economy in the doldrums? What can Hawaii's leaders do to revive economic growth-or can anything be done? What lessons does this period of prolonged economic stagnation hold for those who care about Hawaii's future? The author recounts many of the external and internal events that affected Hawaii during the 1990s, their long-term economic impact, and the issues our elected policymakers must address to restart our economy. After a period of denial, Hawaii's leaders began exploring a wide variety of policies designed to remove perceived competitive barriers and to stimulate the economy. These efforts culminated in policy initiatives that may have assured Governor Ben Cayetano's re-election in 1998. Subsequent economic recovery permitted the pursuit of more questionable economic policies, but the tragic events of 9-11 remind us of the tenuous nature of Hawaii's economic recovery. This highly readable book will challenge students, businesspeople, social scientists, and government leaders to think about the significant issues associated with a near zero-growth economy, and ways to revitalize our economy. A fundamental understanding of Hawaii's position in the global economy-and the challenges it poses for public policy-is essential for all citizens before effective decisions can be made on how to move Hawaii's economy forward.
Relative to the other habited places on our planet, Hawai‘i has a very short history. The Hawaiian archipelago was the last major land area on the planet to be settled, with Polynesians making the long voyage just under a millennium ago. Our understanding of the social, political, and economic changes that have unfolded since has been limited until recently by how little we knew about the first five centuries of settlement. Building on new archaeological and historical research, Sumner La Croix assembles here the economic history of Hawai‘i from the first Polynesian settlements in 1200 through US colonization, the formation of statehood, and to the present day. He shows how the political and economic institutions that emerged and evolved in Hawai‘i during its three centuries of global isolation allowed an economically and culturally rich society to emerge, flourish, and ultimately survive annexation and colonization by the United States. The story of a small, open economy struggling to adapt its institutions to changes in the global economy, Hawai‘i offers broadly instructive conclusions about economic evolution and development, political institutions, and native Hawaiian rights.