Economy
The Spanish colonists saw San Theodoros being rich in chocolate, coffee, corn, and gold. Oil reserves in the country were never proved. The economy, in the national sense, was controlled by rich foreign firms. As of 1970, the estimated GNP (Gross National Product) stood at $45.0 million, and the per capita at a measly $11. Slow economic growth characterized the entirety of Tapioca's three terms. Alcazar's return to power and a quick stabilization of politics in 1976 paved way for increase in tourism potential and an increase of GNP to $306 million.
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Famous quotes containing the word economy:
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)
“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)