Bridgman, Benjamin; Maio, Michael; James A. Schmitz, Jr. - Federal Reserve Bank of Minneapolis - 2012
Beginning in the early 1900s, Puerto Rican sugar has entered the U.S. mainland tariff free. Given this new status, the Puerto Rican sugar industry grew dramatically, soon far outstripping Louisiana’s production. Then, in the middle 1960s, something amazing happened. Production collapsed....