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From our Expert Voices conversation on Puerto Rico's recovery from Hurricane Maria.

Puerto Rico needs an effort equivalent, on the island's scale, to the Marshall Plan. Here's what it should look like:

Forget about austerity: The federally appointed fiscal oversight board approved a broad package of spending cuts and tax increases that will have to be abandoned. These policies would have further contracted the island's economy and would be outright dangerous now.

Spend what's needed: Given the magnitude of the damage, Puerto Rico will need short-term help to avoid a humanitarian disaster, rebuild its infrastructure, and operate basic government services. It will also need federal funding for healthcare, housing and telecommunications, in addition to significant debt relief.

Be patient: Once Puerto Rico recovers, it will still need a long-term economic strategy. However, achieving sustainable growth will require a novel approach and the rebuilding of decrepit governance institutions. There are no quick fixes.

Why it matters: Congress must honor its legal and moral obligations to Puerto Rico. Failure to act not only hurts American citizens, it weakens the United States' moral standing in the international arena, when it argues, for example, for better treatment for Hong Kong by China, for the Palestinians by Israel, or for Greece by members of the Eurozone.

Other voices in the conversation:

Go deeper

Attempting to reform gig work via co-ops

Illustration: Sarah Grillo/Axios

Ride-hailing service The Drivers Cooperative recently debuted in New York City, claiming that its lack of VC funding would result in better driver pay and lower passenger costs.

Why it matters: TDC’s approach is a direct rebuke to the venture capital-fueled gig economy model.

5 hours ago - World

Conservative cleric Raisi elected Iran's president

Raisi gives a press conference after voting. Photo: Atta Kenare/AFP via Getty

Hardliner Ebrahim Raisi easily won Friday's presidential election in Iran, recording 62% of the vote with more than 90% of ballots counted.

Why it matters: Currently the head of Iran's judiciary, Raisi is a close confidant of Supreme Leader Ali Khamenei and has the support of the Islamic Revolutionary Guard Corps (IRGC). His victory solidifies him as a leading candidate to succeed Khamenei, though Friday's low turnout speaks to the disillusionment of many Iranian voters.