Maria Ruane author of \u201c Economic Development Prospects for a Small Island Economy: The Case of Guam.\u201d This journal article talks about the developing economy of my little island, Guam. It is an article on the environmental factors of Guam\u2019s economy, and the analysis in the relationship that they have to it. The factors are: Guam as a small island economy, the economy being relatively open and lacking economic diversification, Guam having lots of natural resources, and a multicultural society. The case discusses employment stats, gross domestic products, Guam\u2019s lack of economies of scale and its limited productive resources. It discusses imports for Guam, that around 36% of its GIP, making Guam vulnerable to external shocks that effect tourist markets. It discusses that military and tourism as the most significant income for Guam. Then the case goes over geographic isolations challenges, absence of mass production, and the governmental involvement: which has shifted Guam towards privately owned businesses. Which in my experience has proven to connect to family\/ governmental corruption on Guam. Towards the end the article discuses that the current dependency on military and tourism as their main income should be redirected towards increasing standard of living, smart management of the environment to ensure sustainability, resurgence of pride in their indigenous culture, high productivity and value-added, intensive use of human capital and technology, use of “green” technology and practices, non-carbon printing and finally, intensive use of indigenous resources including human talents and local materials. \u201cThis paper presented an in-depth evaluation of the environmental factors that affect Guam’s economy and its future development prospects.\u201d There were many economic data sets, demographic data sets, some self-identifying data sets (connected to the ethnicity of the Guam population) in relation to this article. There were a few cultural knowledge aspects and a few hidden social patterns revealed. The data-gathering method that Maria used centered on surveys and questioners, public and private records, and content analysis. The method of data analysis is to see the cause and effect of each environmental factor on the economy of Guam. I enjoyed reading this piece; it gave me a more broadened overview of Guam\u2019s economic system than I am used to. I can see how things operate as a resident, but seeing more factors involved into the economics of Guam lets me look at the factors that I didn\u2019t see originally correlating with it. Guam has a fun economy, designed to attract tourist. However, that economy may be fun on the outside, but has been politically corrupt for a long time. Guam\u2019s economy like many island economies have major struggles in self-efficiency, and although to a tourist might look strong, has too much reliance on too few of factors.<\/p>\n
Ruane, Maria Claret M. “ECONOMIC DEVELOPMENT PROSPECTS FOR A SMALL ISLAND ECONOMY: THE CASE OF GUAM.” Journal of Economics and Economic Education Research<\/em> 13, no. 1 (2012): 15-23, http:\/\/0-search.proquest.com.books.redlands.edu\/docview\/1037693072?accountid=14729 (accessed February 20, 2017).<\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" Maria Ruane author of \u201c Economic Development Prospects for a Small Island Economy: The Case of Guam.\u201d This journal article talks about the developing economy of my little island, Guam. It is an article on the environmental factors of Guam\u2019s economy, and the analysis in the relationship that they have to it. The factors are: […]<\/p>\n","protected":false},"author":54,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/evst399.mcguire-spickard.com\/index.php?rest_route=\/wp\/v2\/posts\/1387"}],"collection":[{"href":"https:\/\/evst399.mcguire-spickard.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/evst399.mcguire-spickard.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/evst399.mcguire-spickard.com\/index.php?rest_route=\/wp\/v2\/users\/54"}],"replies":[{"embeddable":true,"href":"https:\/\/evst399.mcguire-spickard.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1387"}],"version-history":[{"count":1,"href":"https:\/\/evst399.mcguire-spickard.com\/index.php?rest_route=\/wp\/v2\/posts\/1387\/revisions"}],"predecessor-version":[{"id":1388,"href":"https:\/\/evst399.mcguire-spickard.com\/index.php?rest_route=\/wp\/v2\/posts\/1387\/revisions\/1388"}],"wp:attachment":[{"href":"https:\/\/evst399.mcguire-spickard.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1387"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/evst399.mcguire-spickard.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1387"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/evst399.mcguire-spickard.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1387"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}