Puerto Rico

Puerto Rico's Colonial Economy

Arthur Macewan
Dollars and Sense
Dear Dr. Dollar: It seems like Puerto Rico’s economic and financial mess came out of nowhere. Until recently, there wasn’t much about Puerto Rico in the press, but what there was seemed to portray things as fine, with a generous amount of funds going to the island from Washington. Sometimes, Puerto Rico was held up as a model for economic development. So where did the current mess come from? —Janet Sands, Chicago, Ill.

Tidbits - October 22, 2015 - Are You a Capitalist?; Sanders; Clinton; The Grassroots; Afghanistan; Puerto Rico; Palestine; Announcements; and more....

Portside
Reader Comments: Sanders forces question - Are You a Capitalist; Media and Country Debate Socialism like no time in a hundred years; Clinton; GOP Crackup; Afghanistan; Puerto Rico; Palestine; Leonard Peltier; Readers Debate Tipping; Rosalyn Baxandall Announcements: Marxist classes and book talks in New York; Paul Robeson play in Peekskill; Palestine Solidarity and Paid Family Leave events in New York

Puerto Rico: The Crisis Is About Colonialism, Not Debt

Linda Backiel
Monthly Review
Puerto Rico has been sacked by colonial powers for half a millennium. Is it any wonder it is in dire straits? Today, it is $73 billion in debt. As a point of comparison: Greece recently asked for about $82 billion from the European Union. The German finance minister thought it was funny when he proposed to U.S. Treasury Secretary Jack Lew that the Eurozone exchange Greece for Puerto Rico.

Puerto Rico: The Crisis Is About Colonialism, Not Debt

Linda Backiel
Monthly Review
Puerto Rico is in crisis. But the crisis is not about how to pay Wall Street. It is about the impact of centuries-long economic devastation on the men, women, and children—especially children—that live in Puerto Rico. While failure to pay the banks and the vultures makes headlines in the Wall Street Journal and the New York Times, the human misery caused by five centuries of colonialism does not.

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