Litia Cava 
[File Photo]
Pacific Economist Wadan Narsey has emphasized the role played by Fiji’s informal institutions, cultural norms, and traditions in improving the living standards.
Narsey’s focus on this aspect highlights that tackling poverty should not be confined solely to economic measures but should also recognize the value of cultural capital.
During the Multi-Stakeholder Dialogue on Fiji’s economy, a participant shed light on the significant reliance placed on cultural capital during the COVID-19 pandemic.
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He states that people relied heavily on their cultural resources to navigate through the challenges posed by the crisis.
In light of this, Narsey asserts the utmost importance of integrating these crucial factors into policy discussions.
“And so the question is absolutely right: there are many good things that the Fijian society has in terms of social capital, but he has called it cultural capital; it should be kept in mind and not let go of the quest for globalization.”
However, Narsey expresses concern that social capital often remains undervalued.
He highlights Fiji as a setting for two contrasting living experiments.
On the one hand, the communal indigenous Fijian society stands out for its extensive resource sharing, occasionally bordering on extremes.
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He says this societal structure has provided insurance policies for many indigenous Fijians.
On the other hand, the Indo-Fijian community tends to be more nuclear and independent, resulting in higher poverty levels and a sense of helplessness.
Therefore, Narsey emphasizes the need to acknowledge the diverse forms of social capital prevalent in Fijian society, which he refers to as social capital.
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