Is Puerto Rico Really A Failed State?
Should The U.S. Let Puerto Rico Go Bankrupt? http://bit.ly/2blOZqv Should Puerto Rico Become A State? http://bit.ly/2aZOocU Subscribe! http://bitly.com/1iLOHml Puerto Rico is holding $72 billion...
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In July 2016, Puerto Rico defaulted on its debt for the third time. This follows a multi-year debt crisis in the unincorporated territory, stemming from expired tax incentives for US companies, an economic depression, and government inefficiency. Although some are optimistic about Puerto Rico’s future, others have already referred to it as a “failed state”. So, is Puerto Rico a failed state? Well, the term itself is widely debated, but according to the non-profit Fund for Peace, there are four main characteristics to a “fragile” or “failed state”. One characteristic is that a fragile state loses the legitimate authority to make collective decisions. This is a bit of an interesting question for Puerto Rico, which relies heavily on the Unit...
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In July 2016, Puerto Rico defaulted on its debt for the third time. This follows a multi-year debt crisis in the unincorporated territory, stemming from expired tax incentives for US companies, an economic depression, and government inefficiency. Although some are optimistic about Puerto Rico’s future, others have already referred to it as a “failed state”. So, is Puerto Rico a failed state? Well, the term itself is widely debated, but according to the non-profit Fund for Peace, there are four main characteristics to a “fragile” or “failed state”. One characteristic is that a fragile state loses the legitimate authority to make collective decisions. This is a bit of an interesting question for Puerto Rico, which relies heavily on the Unit...
