Debtors' Island: How Puerto Rico Became a Hedge Fund Playground
New Labor Forum

You could call it a perfect storm: a fiscal crisis converging with a deep secular economic decline.[1] Once touted as the showcase of U.S.- led economic development, debt-strapped Puerto Rico is currently embroiled in a struggle for survival. During the mid-twentieth century, Puerto Rico grew at a rapid pace, betting on cheap labor, privileged duty-free access to the U.S. market, and tax incentives for U.S. companies.
Spread the word