{"product_id":"boom-and-bust-in-puerto-rico-how-politics-destroyed-an-economic-miracle-9780268200978","title":"Boom and Bust in Puerto Rico: How Politics Destroyed an Economic Miracle","description":"\u003cp\u003e\u003cb\u003eWho is to blame for the economic and political crisis in Puerto Rico-the United States or Puerto Rico? This book provides a fascinating historical perspective on the problem and an unequivocal answer on who is to blame.\u003c\/b\u003e\u003c\/p\u003e\u003cp\u003eIn this engaging and approachable book, journalist A. W. Maldonado charts the rise and fall of the Puerto Rican economy and explains how a litany of bad political and fiscal policy decisions in Washington and Puerto Rico destroyed an economic miracle.\u003c\/p\u003e\u003cp\u003eUnder Operation Bootstrap in the 1950s and '60s, the rapid transformation and industrialization of the Puerto Rican economy was considered a \"wonder of human history,\" a far cry from the economic \"death spiral\" the island's governor described in 2015. \u003ci\u003eBoom and Bust in Puerto Rico\u003c\/i\u003e is the story of how the demise of an obscure tax policy that encouraged investment and economic growth led to escalating budget deficits and the government's shocking default of its $70 billion debt. Maldonado also discusses the extent of the devastation from Hurricane Maria in 2017, the massive street protests during 2019, and the catastrophic earthquakes in January 2020.\u003c\/p\u003e\u003cp\u003eAfter illuminating the century of misunderstanding between Puerto Rico and the United States-the root cause of the economic crisis and the island's gridlocked debates about its political status-Maldonado concludes with projections about the future of the relationship. He argues that, in the end, the economic, fiscal, and political crises are the result of the breakdown and failure of Puerto Rican self-government. \u003ci\u003eBoom and Bust in Puerto Rico\u003c\/i\u003e is written for a wide audience, including students, economists, politicians, and general readers, all of whom will find it interesting and thought provoking.\u003c\/p\u003e\u003cbr\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAbout the Author\u003c\/b\u003e\u003cbr\u003e\u003cp\u003eA. W. Maldonado is a retired journalist who spent more than fifty years covering Puerto Rico's politics and economy as reporter and columnist for the \u003ci\u003eSan Juan Star\u003c\/i\u003e and editor of \u003ci\u003eEl Mundo\u003c\/i\u003e and \u003ci\u003eEl Reportero\u003c\/i\u003e. He is the author of several books, including \u003ci\u003eTeodoro Moscoso and Puerto Rico's Operation Bootstrap\u003c\/i\u003e and \u003ci\u003eLuis Muñoz Marín: Puerto Rico's Democratic Revolution\u003c\/i\u003e.\u003c\/p\u003e\u003cbr\u003e","brand":"University of Notre Dame Press","offers":[{"title":"Default Title","offer_id":50495265702162,"sku":"9780268200978","price":34.99,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0831\/4771\/8930\/files\/img_3b75d43b-16c2-4214-a407-a3aa0ab1efb7.jpg?v=1730677683","url":"https:\/\/surprise-castle.myshopify.com\/products\/boom-and-bust-in-puerto-rico-how-politics-destroyed-an-economic-miracle-9780268200978","provider":"Surprise Castle","version":"1.0","type":"link"}