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How an Economy Grows and Why it Crashes by Andrew J. Schiff, Peter D. Schiff

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Chapter 7. INFRASTRUCTURE AND TRADE

INFRASTRUCTURE AND TRADE

Traditionally islanders drew their drinking water from the mountain streams and carried it to their huts in whatever vessel they could fashion.

As a result, most people didn't live or work very far from the water supply. Poor access to water also made farming very difficult. These realities limited the island's overall productivity.

One year, a terrible drought descended and dried up many of the mountain streams. The hardship just about wiped everybody out.

The islanders searched for a solution that could prevent such a calamity in the future.

INFRASTRUCTURE AND TRADE

The fertile mind of Able Fisher V (Able's great-great-great-grandson) tackled the problem. He noticed that rain runoff collected in ponds. Taking his cue from nature, he devised a runoff and reservoir system where rainwater could be collected and stored for future use. But this would be a big project, furnishing the entire island with water.

INFRASTRUCTURE AND TRADE

As Able V conceived it, the Water Works project would require working capital of 182,500 fish...enough to support a crew of 250 men for two years while they labored. He went to Manny Fund for a loan. Manny loved the idea but he just didn't have enough fish. Fearing the worst, Able ...

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