Word: bootstrap
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...General Electric plant to make circuit breakers; other factories will produce such goods as coils, rubber buckets, screen wire, photolithography, saber saws, frozen foods, billfolds, brassières. The openings will bring to 400 the total of plants drawn to Puerto Rico by its famed Operation Bootstrap...
...from Desperation. But not just any eye can measure the whole force of Puerto Rico's tug at its bootstrap. The full change dates from the '303, when the economy revolved around the apathetic peasant sugar-cane cutter, and when industry-even rum-making-hardly existed. In 1940, Puerto Rico resolved that it was going to transform itself. Industrialization became a major goal. As a starter, the government bought out mossback electric companies, built dams, strung transmission lines, and thus provided the electricity that powers today's boom. But the most astute stroke was the 1942 creation...
...plants, e.g., a wartime rum-bottle factory, a cement plant. But some strikes that followed showed the vulnerability of government in the double role of industrial labor's friend and employer. The lesson grew clear that the way to industrialize was to attract U.S. capital. In 1948 Operation Bootstrap, based on that principle, got under...
Double Profits. Any serious U.S. businessman who wants to start a factory or a branch plant in Puerto Rico gets kingly treatment from Bootstrap. Under Administrator Teodoro ("Ted") Moscoso, a briefcase-toting man in horn-rimmed spectacles who flouts Latin tradition by working 70 hours a week, EDA can offer mouth-watering inducements. It will provide the businessman with labor from its big files of workers, trained in everything from pastry-baking to power-sewing by one of the world's largest vocational schools. It will build a plant and rent it to him. Moving to Puerto Rico will...
...problem was not Puerto Rico itself, which has one of the fastest-rising living standards in the world. Governor Munoz' "Operation Bootstrap" has brought 316 industries to the island and given it the second or third highest living standard in Latin America. Puerto Ricans are 90% self-governing, and all but a fanatic handful know that they can have the other 10% whenever they...