Abstract
For the Pacific world, 1865 brought together Spain and Micronesia. A scattering of tiny islands to the southeast of the Philippines and northwest of Australia, this country was part of a larger territory whose global reputation featured resistance: to Catholicism, commercial exploitation and being pushed around in general. Self-sufficient and socially complex in fascinating ways for thousands of years, Micronesia has been reduced to the secondary role of coconut traders by world history of the fifteenth through twentieth centuries. Economic anthropology, however, tells a different story, which makes 1865 and islands uniquely relevant to finance today.
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