April 1999: The Economic Model of Puerto Rico after 50 Years
And ways to keep it running for another 50
Is the Puerto Rico economic model of the past fifty years dead? We used three measures to evaluate the performance of the model: growth in output, productivity, and job creation. The record in terms of growth and productivity is impressive but the fruits of economic growth have not been shared by those persistently unemployed. Times have changed and we are challenged with a new economic model based on tourism and services. Find out if these sectors can replace manufacturing as the engine of growth and high wages. Learn how PR can overcome the handicap of high wages on competitiveness in this fourth industrial revolution.
