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:
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)
“Cities need old buildings so badly it is probably impossible for vigorous streets and districts to grow without them.... for really new ideas of any kind—no matter how ultimately profitable or otherwise successful some of them might prove to be—there is no leeway for such chancy trial, error and experimentation in the high-overhead economy of new construction. Old ideas can sometimes use new buildings. New ideas must use old buildings.”
—Jane Jacobs (b. 1916)