Policy implementation calls for efficiency. But because policy concerns range over broad social and political-economic areas, the efficient pursuit of one particular goal may conflict with the realization of some other, equally important social interest. Hence, efficiency for its own sake cannot...

Puerto Rico's Operation Bootstrap began to stagnate around 1970, leaving high unemployment. Structural weakness of the economy will continue to inhibit growth, and the historical strategy appears unlikely to succeed. This paper proposes a policy for the development of autonomous exports and...