Led by Governor Munoz in the 1950s, Operation Bootstrap was an economic program aimed at relieving Puerto Rico’s poverty.
Recalling the old expression “lifting oneself up by the bootstraps,” the program sought to build a modern industrial base for a country that had long been agricultural.
The program encouraged U.S. manufacturing firms to set up operations in Puerto Rico. Businesses that did so were rewarded with exemption from various federal taxes.
As a result of Bootstrap and other programs, Puerto Rico has become highly industrialized. Most of its people are now city dwellers working in manufacturing and service industries. Pharmaceutical companies and the tourism business are among the largest employers.
Only 3 percent of Puerto Ricans on the island still work in agriculture.
Related Posts
-
Where Is Puerto Rico Located, How Many People Live There, and Is Puerto Rico Part of the United States?
Puerto Rico, an island in the Caribbean southeast of Florida, is a U.S. territory with about 3.8 million people. Puerto Rico became a U.S. territory, along with the Pacific island of Guam, when…
-
How many Islands does Puerto Rico have and What is the Capital of Puerto Rico?
The Commonwealth of Puerto Rico, a self-governing possession of the United States, actually consists of four islands. These are the main island of Puerto Rico and three islets: Mona, Vieques, and Culebra. For…
-
Why isn’t Puerto Rico a state and What would statehood mean for Puerto Rico?
The main reason Puerto Rico a state isn't a state is that Puerto Ricans have voted against becoming one. Statehood has certain disadvantages for Puerto Ricans. Because tax exemption for U.S. businesses would…
-
How Many People On Earth Live In Poverty and Why Was Poverty Common Before the Industrial Revolution?
Every day, 34,000 children under age five die from hunger or related causes. That means one child dies every 2.5 seconds, every day. About one out of every four people on Earth live…
-
Who was the first Puerto Rican elected to govern Puerto Rico in 1946?
In 1946, the United States appointed a native Puerto Rican, Jesus T. Pifiero, as governor. But the first Puerto Rican to be elected to the post was Luis Munoz Marin (1898-1980). A journalist…
-
What were Operation Dirty Trick and Operation Bingo by the U.S government in the 1960s?
Operation Dirty Trick and Operation Bingo were early 1960s American schemes to create a politically defensible excuse for invading Cuba. Operation Bingo was a plan to fake an attack on the United States…
