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Operation Bootstrap
Operation Bootstrap () is the name given to a series of projects which transformed the economy of Puerto Rico into an industrial and developed one. The federal government of the United States together with what is known today as the Puerto Rico Industrial Development Company set forth a series of ambitious economical projects that evolved Puerto Rico into an industrial high-income territory compared to the region. Bootstrap is still considered the economic model of Puerto Rico as the island has still not been able to evolve into a knowledge economy. History The island's traditional economy was based around sugarcane plantations; of the 516,730 jobs on the island in 1940, almost half of them were agriculture-based, with 124,076 of these based on sugar-cane farms.U.S. Bureau of the Census. ''Sixteenth census of the United States taken in the year 1940.'' Washington, D.C.: Government Printing Office, 1941-1943. However, Esteban Bird described in detail the misgivings of the suga ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of Puerto Rico
The economy of Puerto Rico is classified as a high-income economy by the World Bank and as the most competitive economy in Latin America by the World Economic Forum. The main drivers of Puerto Rico's economy are manufacturing, which primarily includes pharmaceuticals, textiles, petrochemicals, and electronics; followed by the service industry, notably finance, insurance, real estate, and tourism. The geography of Puerto Rico and its political status are both determining factors on its economic prosperity, primarily due to its relatively small size as an island; its lack of natural resources used to produce raw materials, and, consequently, its dependence on imports; as well as its relationship with the United States federal government, which controls its foreign policies while exerting trading restrictions, particularly in its shipping industry. At the macroeconomic level, Puerto Rico has been experiencing an economic depression for consecutive years, starting in 2006 after ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unemployment
Unemployment, according to the OECD (Organisation for Economic Co-operation and Development), is the proportion of people above a specified age (usually 15) not being in paid employment or self-employment but currently available for work during the reference period. Unemployment is measured by the unemployment rate, which is the number of people who are unemployed as a percentage of the labour force (the total number of people employed added to those unemployed). Unemployment can have many sources, such as the following: * the status of the economy, which can be influenced by a recession * competition caused by globalization and international trade * new technologies and inventions * policies of the government * regulation and market * war, civil disorder, and natural disasters Unemployment and the status of the economy can be influenced by a country through, for example, fiscal policy. Furthermore, the monetary authority of a country, such as the central bank, can in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
