ABSTRACT
This introduction presents an overview of key concepts discussed in the subsequent chapters of this book. The book explains the unfolding literature about small island states and territories. As Dana wryly observes, there is much more to small island survival than subsistence farming, aid, remittances, and public sector workfare. The book focuses on a more optimistic ontology of the small island state and territory: that departs from an acknowledgement of a savvy, smart, and entrepreneurial resident population and institutions. It examines the main sectors that comprise the economies of small island states and territories, starting with the extraterritorial link, represented by migration and remittances, followed by the nonmonetized sector and the practice of economies of scope. Intranational or international emigration often becomes the response to the gamut of economic vulnerabilities faced by small islands. Niche product manufacture finds a significant partner in tourism. One cluster of economic activity relates to geostrategic economic rents.
