South Pacific tragedy: The island that had (and lost) everything »
Posted By JessicaLaurie 1 year, 8 months ago in StyleTwenty years ago, the people of Nauru had the highest per capita income in the world. Today they are destitute: their natural resources exhausted, their wealth (and health) squandered, and their future scarcely imaginable.
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blinkers1 year, 8 months ago
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This is a pitifully sad story, and a powerful warning against those who would advocate unsustainable socioeconomic development.
The Naurans were first exploited by outsiders, and then, upon independence, all the chances to right the wrongs were squandered. As the health minister says, "It was madness with a capital M".
Let us hope the new phosphate deposits will provide hope for the population that the economy will strengthen. There is a prophetic ring to the statements about Nauru's A$1 billion foreign debt, "It will take forever to pay off".
(I know a slightly larger economy with a similar problem!)
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