Tyler Cowen, Columnist

Puerto Rico's American Dream Is Dead

Hurricane aid is on its way, but the U.S. seems unwilling to tackle the island's long-term problems.

What will the future hold?

Photographer: Alex Wroblewski/Bloomberg
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President Donald Trump has finally started tweeting about the disaster in Puerto Rico, and his messages show that he -- and we as a nation -- still haven’t digested the full implications of the post-Hurricane Maria situation. The underlying reality is that the political and economic model for the island just isn’t working any more, and the dream of Puerto Rican economic convergence has been laid to rest once and for all. That in turn says something bad about the rest of this country, namely how quickly we will give up on the possibility of transformational change.

The traditional American dream is that the poorer parts of this country would, sooner or later, start catching up to the richer parts. The American South, after an extreme divergence, gained on the North after World War II. But Puerto Rico never made the same leap, and in relative terms has held roughly steady since 1970.