Don’t blame Puerto Rico’s poor economy on hurricanes, by José B. Carrión and Andrew G. Biggs

José B. Carrión is the chairman of the Financial Oversight and Management Board for Puerto Rico. Andrew G. Biggs is a member of that board and a resident scholar at the American Enterprise Institute.

The bipartisan 2016 legislation that created the federal Financial Oversight and Management Board for Puerto Rico, of which we are members, included an explicit sense from Congress that “any durable solution for Puerto Rico’s fiscal and economic crisis should include permanent, pro-growth fiscal reforms.”

And yet the board today projects that Puerto Rico’s economy four decades from now will be no larger than it is today. What went wrong?.....

EN: 

https://www.washingtonpost.com/opinions/dont-blame-puerto-ricos-poor-economy-on-hurricanes/2018/12/17/206a5734-f181-11e8-9240-e8028a62c722_story.html?mkt_tok=eyJpIjoiWVRJNU56VmlOMk0xT1RWbCIsInQiOiJhbDJyQnk4ZFJQS3VKZld5RWNEZWhWKzRVOGFyeFUrYmhUZmVieGpWNU1UMkllRUcrbFwvaXdqRGhJSVFOOXJqanZsUXhLXC9aeEJTQnNIMnM2cjVWcWdzcHVrKzlzeGZQTFFCZFNkb2FmQWRHXC9ieDdOMnkwZVh1UXhaTzRBQUJUMSJ9&noredirect=on&utm_term=.4745716f6869