🌍 IMSPARK: an Economy That Works for Everyone🌍

 🌍 Imagine... an Economy That Works for Everyone🌍 

💡 Imagined Endstate:

A Pacific future where economic models are designed for real-world resilience, valuing human capital, dignity in labor, and the long-term well-being of communities over abstract theories and short-term returns.

📚 Source:

Cass, O. (2025, March). In search of the invisible hand. IMF Finance & Development. Link to Article

💥 What’s the Big Deal:

Oren Cass challenges a core assumption of modern economic orthodoxy: that the “invisible hand” of self-interest will naturally lead to optimal outcomes for society. But the reality—in the Pacific and globally—is far more complex🔍. He argues that our reliance on GDP growth and market efficiency alone has come at the cost of weakened communities, diminished work dignity, and increasing vulnerability among those who lack mobility or voice🤝.

For Pacific Island Countries and Territories (PICTs), which already operate on the frontlines of climate change, migration, and economic marginalization, the risks of relying solely on abstract global models are particularly acute📉. These economies require more than trickle-down theories—they need policies rooted in context, community resilience, and systems that reward contribution over speculation. 

Cass calls for redefining what we optimize: not consumption, but contribution; not capital markets, but strong families and self-reliant communities. For PI-SIDS, this vision aligns with Indigenous values and sustainable pathways forward🌐.

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