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Book Cover
E-book
Author Maldonado, A. W.

Title Boom and Bust in Puerto Rico : How Politics Destroyed an Economic Miracle / A.W. Maldonado
Published Notre Dame, Indiana : University of Notre Dame Press, [2021]
©2021

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Description 1 online resource (ix, 256 pages)
Contents Prologue -- Introduction -- Part I . The Rise And Fall -- One. Operation Bootstrap -- Two. Operation Bootstrap and the Statehood Surge -- Three. The Demise of Section 936 -- Four. The Turning Point -- Five. The Breakdown of the Public Corporations -- Six . The Demise of the Government Development Bank -- Seven. "That Is Nuts": Puerto Rico's Labor Policy -- Eight. Will Puerto Rico Become a State? -- Nine. The Future of Puerto Rico -- Part II . The His Torical Context -- Ten. A "Troubled" Relationship -- Eleven. A Century of Miscommunication and Misunderstanding -- Epilogue. The Pandemic, the "Curse," the "Fix" -- Notes -- Index
Summary In this engaging and approachable book, journalist A.W. Maldonado charts the rise and fall of the Puerto Rican economy and explains how a litany of bad political and fiscal policy decisions in Washington and Puerto Rico destroyed an economic miracle. Under Operation Bootstrap in the 1950s and '60s, the rapid transformation and industrialization of the Puerto Rican economy was considered a "wonder of human history," a far cry from the economic "death spiral" the island's governor described in 2015. Boom and Bust in Puerto Rico is the story of how the demise of an obscure tax policy that encouraged investment and economic growth led to escalating budget deficits and the government's shocking default of its $70 billion debt. Maldonado also discusses the extent of the devastation from Hurricane Maria in 2017, the massive street protests during 2019, and the catastrophic earthquakes in January 2020. After illuminating the century of misunderstanding between Puerto Rico and the United States--the root cause of the economic crisis and the island's gridlocked debates about its political status--Maldonado concludes with projections about the future of the relationship. He argues that, in the end, the economic, fiscal, and political crises are the result of the breakdown and failure of Puerto Rican self-government. Boom and Bust in Puerto Rico is written for a wide audience, including students, economists, politicians, and general readers, all of whom will find it interesting and thought provoking
Bibliography Includes bibliographical references and index
Notes Print version record
Subject Financial crises -- Puerto Rico
International economic relations
Financial crises
Economic policy
Diplomatic relations
Economic history
Politics and government
Social conditions
Międzynarodowe stosunki gospodarcze.
Polityka gospodarcza.
Polityka.
Wzrost gospodarczy.
Gospodarka.
SUBJECT Puerto Rico -- Economic conditions -- 1952- http://id.loc.gov/authorities/subjects/sh85108946
Puerto Rico -- Economic policy
Puerto Rico -- Foreign economic relations -- United States
United States -- Foreign economic relations -- Puerto Rico
Puerto Rico -- Foreign relations -- United States
United States -- Foreign relations -- Puerto Rico
Puerto Rico -- Politics and government -- 1952-1998. http://id.loc.gov/authorities/subjects/sh85108959
Puerto Rico -- Politics and government -- 1998- http://id.loc.gov/authorities/subjects/sh2007000992
Puerto Rico -- Politics and government -- 21st century
Puerto Rico -- Economic conditions. http://id.loc.gov/authorities/subjects/sh85108944
Puerto Rico -- Social conditions. http://id.loc.gov/authorities/subjects/sh85108960
Subject United States
Puerto Rico
Stany Zjednoczone (USA)
Portoryko (Stany Zjednoczone ; państwo stowarzyszone)
Genre/Form Monografia.
Form Electronic book
ISBN 9780268200961
0268200963
9780268200992
0268200998