What happened during the decade of the 1990s that caused Hawai'i's once full economic sails to deflate, leaving the economy in the doldrums? What can Hawai'i'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 Hawai'i's future? The author recounts many of the external and internal events that affected Hawai'i during the 1990s, their long-term economic impact, and the issues our elected policy-makers must address to restart our economy. After a period of denial, Hawai'i'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 Hawai'i'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.
- UH Press, 2002. Out of print.
- Paperback, 131 pages.