What to Make of the Puerto Rican Economy Crisis

Puerto Rico is stuck in a nasty downward spiral. Its economy has contracted almost every year for the past decade. In turn, its population is shrinking as young people decamp for Florida, New York and other U.S. states seeking job opportunities. That, in turn, only further depresses its economy. It’s also stuck under a mountain of debt due to years of mismanagement, making it hard for the Puerto Rican government to break this cycle.