The Book I Could Not Put Down
The Conch Paradox: Rethinking Resilience. Earlier this week, I attended a book signing by Rendell de Kort, a development economist, Ph.D. researcher, and co-founder of the firm Cornerstone Economics whose…
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When External Shocks Hit Small Economies
This article examines the vulnerability of small, open economies—such as Aruba—to external shocks, including global economic crises, pandemics, and fluctuations in tourism demand. It argues that while openness drives growth, it simultaneously exposes these economies to disproportionate risks beyond their control.
Using Aruba as a case study, the article explores how external shocks transmit through key sectors, particularly tourism, public finances, and the labor market. It highlights the structural constraints small economies face, including limited diversification, high import dependency, and restricted fiscal space.
The analysis underscores the importance of resilience-building strategies, including economic diversification, institutional strength, prudent fiscal management, and regional and international cooperation. Ultimately, the article contends that sustainable autonomy for small economies requires not only self-governance, but also the capacity to anticipate, absorb, and adapt to external disruptions. -
The Last Flame: Lago, Memory, and the End of an Era
A Book That Sparked More Than Memory In 2008, Dr. Jorge R. Ridderstaat published The Lago Story, a powerful, underappreciated account of Aruba’s most important industrial institution. I picked up…
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ABC Routes: The Bridge We’ve Lost – and How to Build It Back
For decades, the connection between Aruba, Bonaire, and Curaçao was more than just a short hop. It was a lifeline, a steady flow of people, ideas, business, and culture that…
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Aruba’s Economy: A Ticking Time Bomb
The latest financial update from the Aruba Financial Supervision Board (CAft) may seem promising at first glance, but let’s be clear—I have no reason to be optimistic. Quite the opposite….
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Miami Port Strikes: What It Means for Aruba and the Wider Caribbean Economy
The recent strikes at major U.S. ports, including the Port of Miami and other East Coast and Gulf Coast hubs, are ringing alarm bells for Caribbean economies like Aruba and…
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AFTA’s Performance in 2024: Is it Meeting Expectations?
The Aruba Fair Trade Authority (AFTA) has completed three-quarters of its operation, but its effectiveness and priorities deserve scrutiny. I’ve written about AFTA before, including a detailed analysis of Aruba’s…
