1955
DOI: 10.2307/2126617
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Puerto Rico: A Case-Study of Change in an Underdeveloped Area

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“…One policy that was discussed in Puerto Rico, but never pursued, was a proposal to greatly reduce trading with the United States and replace it with trade with other Caribbean countries. A professor at the University of Puerto Rico, one Gordon Lewis, was such a proponent (see Lewis (1955)). David Ross (1957, p. 100), who at the time worked for the Economic Development Administration of Puerto Rico, wrote a reply to Lewis, stating, We may have, in short, nothing to lose but money by giving up our trading connections with the U.S.-but we need the money.…”
Section: Resultsmentioning
confidence: 99%
“…One policy that was discussed in Puerto Rico, but never pursued, was a proposal to greatly reduce trading with the United States and replace it with trade with other Caribbean countries. A professor at the University of Puerto Rico, one Gordon Lewis, was such a proponent (see Lewis (1955)). David Ross (1957, p. 100), who at the time worked for the Economic Development Administration of Puerto Rico, wrote a reply to Lewis, stating, We may have, in short, nothing to lose but money by giving up our trading connections with the U.S.-but we need the money.…”
Section: Resultsmentioning
confidence: 99%
“…161-162) emphasised the economic and technical difficulties faced by most subsidiaries in undertaking successful operations (such as the market dimension and changes in the economic environment with the resumption of trade) as drivers of the sale. However, in an article published in 1955, Lewis (1955, pp. 625-627) stressed managerial incapacity as one of the reasons for the sale, as well as the view that government-owned firms would produce a dangerous increase in the island's wage structure because they paid higher wages than private firms.…”
Section: Analysis Of the Objectives Of Privatisation In Puerto Ricomentioning
confidence: 99%
“…Another important economic policy objective was to attract foreign capital for the industrialisation process, particularly from the continental United States (Perloff 1950, 1953, p. 51). In this respect, Lewis (1955, p. 625) and Goldsmith et al . (1974, p. 144) stress that an important reason for abandoning nationalisation was to attract investors from the mainland.…”
Section: Analysis Of the Objectives Of Privatisation In Puerto Ricomentioning
confidence: 99%
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