The island government has planned a series of plans with the aim to grow the economy in line with strict rules that have been on the run to help keep the focus on the need for personal and private property acquisition. In addition to the above statement, tax payment was easily affordable as the economy was still in the roots as the regulations to set and run the industries was light. Through this, the economy of island government is young and picking with the Fishermen being the key facilitators of the economic budget to the state ( Schiff & Schiff, 2013 ).
On the same token, the due to the dedication of the fishermen’s contribution of nutrients to cater for the entire islands need. This highly gave room and equal opportunity to offer services and labor that led to the sprouting of several industries such as drum making, hut furnishings and witch doctoring that have facilitated to the birth of the industries resulting to the economic growth.
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Through this, the Senate made the need to foster new and more reliable rules that will favor tax payment ( Schiff & Schiff, 2013 ). On the same token, when Franky Deep sensed the danger of the storm of the fading economy, he came up with an idea to redeem the failing economy. By the use of fish notes to redeem at the Good bank, the local citizens would trade their fish notes for the fish. On the contrary, this political agenda facilitated the economic growth of the island. However, the island’s chief judge did not handsomely welcome this idea. He was actively opposing the idea and referring to the island’s constitution that “the Constitution gave the Senate no authority to take money from one citizen for the sole benefit of another, nor did it have the authority to issue paper notes for fish. P.109” On the other hand, Frank Deep came to understand that, the thrill of the ordinary people craving free thing and lack of tax paying is a steady avenue to the failing or crushing of the economy
Reference
Schiff, P. D., & Schiff, A. J. (2013). How an Economy Grows and why it Crashes . John Wiley & Sons.
