Towards a Dystopian Existence in Puerto Rico by Manuel Morales, Jr (Full text)

Essay

Abstract

This essay delves into five interconnected themes shaping Puerto Rico’s economic trajectory. Firstly, it highlights an entrenched reliance on fiscal federalism, characterizing an inefficient relationship with the United States, impeding the island’s economic autonomy. Secondly, the essay explores how a dependency on federal funds has inadvertently stifled the island’s political leadership, hindering efforts to cultivate internal productive capacities. A crucial aspect is the insufficient backing and cultivation of Puerto Rico’s economic backbone: its Small and Medium Size Enterprises (SMEs/PYMEs), family businesses, and local capital, impeding their growth potential. Furthermore, the essay addresses the neglect of governance principles, strategic foresight, and the island’s role within the technology-centric global economic landscape of the 21st century.

Lastly, it highlights the conflict between political expediency and the formulation of sound economic growth strategies, obstructing comprehensive economic development.

Keywords

Puerto Rican economy, Small and Medium Size Enterprises

About the Author: Founder of the Puerto Rican NGO Instituto Negocio de Familia.