Word: rico
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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...
Free State. Under Governor MunÕz Marin, Puerto Rico's political innovations have kept pace with the economy. MunÕz is uniquely fitted for island leadership. The son of a famed Puerto Rican statesman, he grew up in Washington, lived for a while as a Greenwich Village poet and intellectual, then returned to Puerto Rico. By hinterlands campaigning for "Bread, Land and Liberty," he developed a powerful backing among the peasant farmhands, and in 1940 became a Senator and an influential leader. In 1948 he became Puerto Rico's first elected governor (and was re-elected...
When in 1950 Congress offered to let Puerto Rico write its own constitution, MunÕz helped draft it and happily saw it approved, 375,000 to 83,000. The constitution makes Puerto Rico self-governing in local affairs, gives it a relationship to the U.S. defined in the official Spanish term as Estado Libre Asociado (Free Associated State); the official translation is Commonwealth. Congress' laws, notably the draft, apply to Puerto Rico, but because the island has no vote in Con gress it is spared the income...
Overpopulation. Puerto Rico's industrial revolution has wrought the expectable statistical wonders. Per-capita national income went from $122 in 1940 to $434 in 1954, v. 1954's $201 in the neighboring Dominican Republic, $538 in West Germany. $1,845 on the U.S. mainland. As a market for the continental U.S., the island, buying $584 million worth of goods last year, outranks all foreign countries except Canada, Mexico, the United Kingdom and Japan...
...thus making more goods available, Bootstrap has tackled one approach to Puerto Rico's basic problem: overpopulation. More than 2,300,000 cram the island, 670 to the square mile. From the approach of providing work, Bootstrap has been barely a holding operation. It has created 33,000 industrial jobs, and perhaps even more resulting service jobs. But a runaway birth rate combined with a death rate lower than the mainland's-plus a parade of labor from the increasingly efficient farms-pours 20,000 workers a year into the market. In the short run, only by heavy...