Residential segreation in pr and the social making of the puerto rican welfare

Residential segregation in Puerto Rico and the social making of the Puerto Rican welfare

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Residential segregation in Puerto Rico and the social making of the Puerto Rican welfare

Prior to the 1970s , the Puerto Rican economy had been going through tremendous growth facilitated by the growth of a petrol chemical complex and oil refinery on this island . Between 1959 and 1973 , a system quota had restricted oil imports to the U .S and this enabled Puerto Rican based American oil refineries to cheaply import

oil from the Middle East and Venezuela . U .S oil companies operating on the island such as Sun oil , CORCO , Phillips and Gulf operated competitively with oil companies in Eastern U .S .A making Puerto Rico an export platform for petrochemical products and leading to tremendous growth of her economy However , in the early 1970s , three major events negatively affected the Puerto Rican economy : the U .S dollar devaluated sharply , oil import quotas ceased in the U .S and oil prices increased . Worse still , the U .S economy was going through a recession and all these factors gave rise to various processes that halted the previously sustained island economy The decline was so sharp that between 1973 and 1975 , GNP fell from 5 to -1 .8 5 , a decline that ensured that the Puerto Rican economy would never get back to the high levels experienced prior to the 1970s . As a result the 1970s has been described as a decade that is...