Stiglitz: ‘Puerto Rico, don’t let this crisis go to waste’

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By Michelle Kantrow-Vázquez and Lorraine Blasor

Puerto Rico needs to make “clear demands” to the U.S. government regarding what is needed to pull through its present difficulties, including requesting more flexibility with the Jones Act, a legislation that is also hurting Hawaii.

So suggested Economist and 2001 Nobel laureate in Economic Sciences Joseph Stiglitz, keynote speaker at the Center for a New Economy’s annual conference, who also said Puerto Rico “can’t let this crisis go to waste.”

“When you face a crisis both in the public and private sector, hopefully it focuses attention on what needs to be done and what can be done and go beyond the simplistic solutions of “’we have to tighten our belt’,” he said.

“We have to tighten our belt may not be the answer. Yes, you may have to, but that’s only the beginning of the discussion, not the end of the discussion,” he said. “This is where I think civil society discussions become very important, because there’s no monopoly on good ideas in society. You should not just look to the politicians as the source of ideas.” Continue reading “Stiglitz: ‘Puerto Rico, don’t let this crisis go to waste’”