For years, micronations the world over have tried and failed to create their own, independent economies. Each attempt to realise this goal has proven unsuccessful, due to various combinations of poor economic understanding, low citizen numbers, unrealistic expectations and misplaced priorities. In recent times, many micronationalists have come to regard economic development as an unreachable ambition, frustratingly reserved to macronations and macronations alone. This belief greatly frustrated Abeldane national, Hugh McFarlane, who saw crippling errors in micronational economic plans being repeated again and again, leading to the false perception that credible economies are impossible to create in the micronational context. It was this frustration which moved Mr. McFarlane to establish the Abeldane Prosperity Institute (API): an economic think tank which aims to advise Abeldane policymakers on creating a real and functioning economy.
As the API's Director, Mr. McFarlane drafted the institute's first policy proposal (source); putting forward an ambitious plan in which heavy government spending, sturdy regulations, pre-established financial infrastructure, an online transactions system, strategic monetary policy and a civilian effort would be used in tandem to establish the micronational community's first credible economy. The proposal received widespread support and was soon backed by leading figures within the nation, including the Emperor and Vorsitzender, who allowed Mr. McFarlane and API Research Fellow, Anthony Clark, to draft an Imperial Decree which would lay the legal and regulatory groundwork for any future Abeldane economy. With the passing of the Economic Decree (source) and the appointment of Mr. McFarlane as Imperial Economic Advisor, now is the time for the API to continue providing advice to the Imperial government as the nation moves towards finally kick starting its new economic plan. In addition to providing policy recommendations to the government, the API also hopes to assist regular Abeldane citizens with participating in the developing economy. To that end, informative sections have been added to the Institute's site, providing citizens with information relating to making online transactions, creating businesses, finding employment and relevant government legislation. Going further, the API will deepen its efforts to encourage economic development and participation through this publication, 'The Advisor', which shall focus on publishing opinion pieces concerning economic policy, both domestic and intermicronational. Mr. McFarlane has even suggested that in the future, the Institute may launch a 'Foreign Development Initiative', which would assist other micronations meeting certain criteria with the creation of their own economies. Whatever the case, it is clear that the API's future seems bright. Should its suggestions continue to garner national support, it is quite likely that Abelden will find itself with a functioning and credible economy by the end of the year.
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