Adam Smith entered a world that his reason and eloquence would later transform. He was baptized on June 5, 1723, in Kirkcaldy, Scotland. It’s presumed that he was either born on that day or a day or two before. He would become the Father of Economics as well as one of history’s most eloquent defenders of free markets.
Adam Smith: Ideas Change the World Read More »
Puerto Rico is home to approximately 3.2 million people, according to the State Data Center (SDC-PR). Of these, only 1.16 million work in the formal economy, while labor participation is around 44.9%. This gap is evidence of a growing inequality between those who support the treasury with their contributions and those who, without contributing or doing so minimally, demand and enjoy the same public services.
The two battle fronts in Puerto Rico Read More »
Last May a study came out suggesting that merely giving people money doesn’t do much to lift them out of poverty. Families with at least one child received $333 a month. They had more money to spend, which is a good thing, but the children fared no better than similar children who didn’t get the cash. They were no more likely to develop language skills or demonstrate cognitive development. They were no more likely to avoid behavioral problems or developmental delays.
Why I Am Not a Liberal Read More »
Economist Finis Welch observed long ago that “without unequal priorities and capabilities, there would be no trade, no specialization, and no surplus produced by cooperation.
The benefits of inequality Read More »
In a transformative year, Puerto Rico has achieved unprecedented strides in economic liberty, surpassing two decades of prior progress.
Licensing Liberty—Puerto Rico’s New Economic Horizon Read More »
Recent efforts to control spending, including accountable care organizations, value-based payment, and high-deductible health plans, have emphasized optimizing patterns of health service use.
It Is Time to Consider More Price Regulation in Health Care Read More »
Fast-food job losses in California spiked after passage of the $20 minimum wage for some workers, according to a new study.
New study reveals that minimum wage hike cut tens of thousands of jobs Read More »
Puerto Rico's finances have been a problem for a long time, but its problems were radically exacerbated by Hurricane María in 2017.
Trump shakes up Puerto Rico's Fiscal Board Read More »
North Dakota is experiencing a tight labor market with an inability to attract workers for various occupations. While several policies may be considered to alleviate this workforce shortage, policies that remove or reduce restrictions on workers are particularly attractive; they can potentially increase the number of available workers at a very low cost.
Reforming Occupational Licensing in North Dakota Read More »
Puerto Rico must strengthen the capacities of its population in view of the possibility that cuts in federal public spending may affect the funds received on the island for social assistance programs.
The last days of the welfare state Read More »
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