Comments on: Will Puerto Rico ever see economic growth? http://blogs.reuters.com/muniland/2013/05/17/will-puerto-rico-ever-see-economic-growth/ Bridges, budgets, bonds Mon, 24 Nov 2014 00:29:08 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: jribot http://blogs.reuters.com/muniland/2013/05/17/will-puerto-rico-ever-see-economic-growth/comment-page-1/#comment-2237 Fri, 17 May 2013 18:19:43 +0000 http://blogs.reuters.com/muniland/?p=12668#comment-2237 Let’s have something clear Commonwealth as defined by the Webster Dictionary is a:
“ a nation, state, or other political unit: as
a : one founded on law and united by compact or tacit agreement of the people for the common good.
b : one in which supreme authority is vested in the people
c : REPUBLIC”
The Commonwealth of Puerto Rico is the name given to the island in the constitution of 1952. But not a political status given by Law. Is usually misinterpreted in Spanish the name of the island is: “Estado Libre Asociado de Puerto Rico” The literally translation of this will be a State Free and Associated of Puerto Rico. As you can see it doesn’t make sense. It became common use the word Commonwealth. The island was invaded by the United State in 1898 and as stated in the document “U.S. Department of State Foreign Affairs Manual Volume 7 Consular Affairs 7 FAM 1120 ACQUISITION OF U.S. NATIONALITY IN U.S. TERRITORIES AND POSSESSIONS”. As stated in point “b”:
“b. The territories came under U.S. control in a number of ways:
(1) Puerto Rico, Guam, and the Philippines. After the Spanish-American War,
Spain ceded Puerto Rico, Guam, and the Philippines to the United States by
the Treaty of Paris of 1899 (30 Stat. 1754) (“Treaty of Paris”). The treaty
came into force in April 11, 1899. The Philippines ceased being a U.S.
territory upon its independence on July 4, 1946;”
After let clear the real political status of the Territory. We can analyze and understand better the economic side. Is clear that the economic health of the island is collapse and the inability of the government administration doesn’t help. Is easy to understand the political status that the island have was provisional and they need to start the process of bean state of the union or on go to the other direction that will give the island the independence and power to do as a republic a more efficient economic model.
Without any study that proves this I can say that Puerto Rico is the only place that has more people living outside the island in it. The last census was done in the island showed that out of the island had more than four million inhabitants on the island are three point seven. This is clearly another example of the collapse of not only the economic aspect of the country if not as a society.

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