Top 10 reasons Puerto Rico's economy will continue to decline

There's a lot of things on my mind, that I want to share, but I have to get this out. It serves as the basis for my conclusion that nothing can be done to "fix" our economy. Only massive failure and subsequent crisis will provide any type of empowering motivation for change.

  1. There are more people than there are jobs.
  2. To accommodate the overflow of workers, the government hired a lot them, then bloated to become the islands largest employer.
  3. Our most talented graduates leave the island for more lucrative and exciting opportunities. (see Gil's latest post about this...)
  4. Little research and development in our universities and basically none in our leading companies.
  5. A stubborn focus on Puerto Rico as the market for our products and services.
  6. The three doomsday horseman of the apocalypse: corruption, lawlessness, and mass consumerism.
  7. An unhealthy belief that tourists can be bought through advertising instead of being influenced through exceptional experiences and word of mouth marketing.
  8. The other three horsemen of the apocalypse, anti-small business culture, a zero-sum mentality, and a belief in life-style businesses.
  9. Little or no immigration of new citizens seeking a better life.
  10. A complete taboo against recognizing our problems as problems and encouraging discussion and mobilization to address those problems.
  11. Great disparity in the distribution of wealth, capital, resources, information, and opportunity.
  12. A massive unregulated, off-the-books, cash-based, pay your fair share underground economy.
  13. Denial tending towards mass hypnosis, acceptance of the status quo, and reticence.
  14. A failing infrastructure (transportation, power, sewage, solid-waste disposal) that can not withstand significant increases in demand.
  15. A collection of self-serving, self-preserving political, governmental, and social non-profit systems.
  16. An educational system which under serves students and perpetuates the status quo.
  17. An economy directly connected to the availability of low cost foreign oil.
In my opinion these are the core reasons that working with what we have will only result in what we already have. Without addressing these core issues, anything we do will be temporary and short lived.

6 comments:

Clarisel

18 de febrero de 2009, 14:00
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dijo...

The problems are so many that your top 10 reasons became a list of 17.

MC Don Dees

18 de febrero de 2009, 20:50
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dijo...

Just checking to see if anyone was still reading these. :-)

Something I read that can generate more comments.Your faithful readership is greatly appreciated...

pedro

23 de abril de 2010, 09:21
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dijo...

sad but truth really good info

LAP

6 de octubre de 2010, 20:21
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dijo...

Excellent summary of Puerto Rico´s condition. Above all 2, 8 and 15 are the ones that are killing us the most.

Israel

24 de noviembre de 2011, 16:12
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dijo...

Israel dijo,
This is good information and it is not far from the truth. I will also add to that list the hundred of thousand puertorrican that that live out of the spencess of the government. Today we have a culture that steal from government services and that seems to be ok at the eyes of our society. Many family care less for thier kids that later on in life the majority of the males end up using and abusing ilegal drugs and the famale end up getting pregnant. This cycle is reapeted again and again. Today we have in comparison with states of the US nation, records of delinquencies being the most cruel of all the assesination of youngster that because of their parrents ignorrance and loveless end up at the cementary without reaching the age of 16 years old. Many families don't have a relationship with God who can provide and fix their situation and give them a hope. Today is November 24 and PR has 1016 assesinations wow...I tell you who can read this, my english might be good but the reality that we need to be close to God, to have a hope in this island that seems to go hell, is so needed. You want to see change in PR, start praying on your knees, asking our Lord Jesus Christ to be part of your family and start the process of change with you. God bless you

super duper

31 de julio de 2013, 13:55
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dijo...

The Cabotaje law or the Jones Act and the unjust US tax code system impose in the island will ultimately make the economy collapse. Very sad but we will have to go through that in order for us to wake up and declare our independence.