The Puerto Rican economy has come a long way since it started to industrialize and modernize in the mid-1900s through what was called “Operation Bootstrap” in English, or “Operación Manos a la Obra” in Spanish. The process of industrialization was, by many measures, a success, even though some economic indicators have continued to point to many economic disequilibria that have persisted over time, such as a persistently high rate of unemployment as well as a high rate of inflation compared to the U.S. mainland, even though Puerto Rico uses the U.S. dollar as its currency and monetary policy is conducted by the U.S. Federal Reserve.