Caribbean Rum

Paper Summary:

This paper discusses how the economic impact of the rum industry on Puerto Rico and the U.S. Virgin Islands is very important and continues to be an important and growing source of government revenues. It also examines how Puerto Rico and the Virgin Islands enjoy special privileges along with a virtual monopoly on the U.S. rum market.

From the Paper:

"Rum is made from molasses, a by-product of sugar production, and has surpassed tafia in consumption and profitability (Rum). Although rum did not become very profitable until the mid-1960's, its demand has increased over the last twenty years (Rum). During the 1960's, rum production moved from a period of stability to one of "appreciable growth," resulting in strong competition among the distilleries and increased production among the more efficient ones (Rum).
By the end of the decade, the rum industry had become dominated by a small number of large distilleries, and its demand continued to grow into the 1970's, along with a steady increase in rum's share in the U.S. liquor market (Rum)."

Sample of Sources Used:

• Fairchild, Johnson E.; Weaver, John C.; Wright, John K. The European Possessions in the Caribbean Area: A Compilation of Facts concerning Their Population, Physical Geography, Resources, Industries, Trade, Government, and Strategic Importance. American Geographical Society: New York. 1941; Pp.14.
• Heine, Jorge; Manigat, Leslie. The Caribbean and World Politics: Cross Currents and Cleavages. Holmes & Meier: New York. Publication.1988; Pp. 225.
• MacDonald, Scott B.; Fauriol, Georges A. The Politics of the Caribbean Basin Sugar Trade. Praeger Publishers: New York.1991; Pp.17.
• "Rum Trade: From Slavery to the present." Retrieved March 14 2006 from:http://www.american.edu/ted/RUM.HTM
• Sheller, Mimi. Consuming the Caribbean: From Arawaks to Zombies. Routledge: New York. 2003; Pp. 79.

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