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 policymakers 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, and ways to revitalize our economy. A fundamental understanding of Hawai`i'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 Hawai`i's economy forward.

Christopher Grandy is associate professor in the public administration program, University of Hawai`i.

Read the introduction (PDF).

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