Beyond Dependency in Puerto Rico: Exploring Social and Solidarity Industrial Policy as an Alternative for the Global South
Ricardo R. Fuentes-Ramírez
Abstract:This article challenges the mainstream economic argument that attributes Puerto Rico’s economic struggles to overly generous federal welfare programs or an excessively high minimum wage. It traces the root of the island’s structural economic issues to its mid-twentieth-century dependent growth strategy, pre-dating these commonly cited factors. Examining the role of Puerto Rican elites, the article argues that their vested interests in the current model could undermine a suitable industrial policy program. The … Show more
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