In this powerful episode, I sat down with former Puerto Rico Secretary of Economic Development Alberto Bacó to unpack the island’s most important economic inflection points—three that fueled unprecedented growth, and three that led to deep economic decline.
Alberto shares firsthand insight into how incentives like Operation Bootstrap, Section 936, and later Act 20 and Act 22 transformed Puerto Rico into a manufacturing and job-creation powerhouse—at one point generating over 140,000 jobs and attracting world-class businesses across the island. He also explains why those incentives were dismantled, how political decisions shifted economic activity overseas, and why Puerto Rico lost more than 100,000 high-paying jobs in the process.
The conversation also explores the loss of the U.S. Navy presence, the collapse of the banking sector, the island’s historic bankruptcy, and the long-term consequences for investors, workers, and families.
This episode is essential viewing for anyone interested in Puerto Rico’s past, present, and future—especially investors, founders, policymakers, and those considering relocation or business on the island.
Learn more about your ad choices. Visit megaphone.fm/adchoices