Puerto Ricans Need to Stop Living Like Kings and Learn to Work in Sweatshops

An urgent read about Puerto Rico’s maladies and Bloomberg’s problematic article. It is short and necessary.

in cOHERENT Thoughts

An article in BloombergView, condescendingly entitled Helping Puerto Rico Prosper, pretends to offer a solution to the island’s economic maladies. Of course it has gone viral. The article presents a laundry list of what is ailing Puerto Rico while slowly but surely making a nuanced case for right wing economics. Here is the laundry list.

• Since 2006, Puerto Rico’s economy has contracted every year but one.

• Its unemployment rate of 13.7 percent is double that of the U.S. mainland.

• Its poverty rate is twice that of Mississippi.

• Puerto Rico’s population and tax base have aged and shrunk.

• Since 2000, public debt has risen from 60 percent of gross domestic product to more than 100 percent.

• Much of that has been racked up by the island’s inefficient public-sector corporations.

After presenting these well-known facts, the article argues for deregulation- of the worse kind. It…

View original post 635 more words

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About Dennis R. Hidalgo
I am a historian of the Atlantic World. I am passionate about people, those alive in the present and those who left little trace of their past.

One Response to Puerto Ricans Need to Stop Living Like Kings and Learn to Work in Sweatshops

  1. Dr. Harry Franqui-Rivera says:

    Thank you so much for the reblog Dennis!

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