Articles

Law 52: the latest nonsense of the Puerto Rico legislature

Property Rights /

One of the fundamental rights in our democratic and free enterprise system is the property and the possibility of freely disposing of it. The property right allows the effort of the initiative, work and creativity of human beings to be retained and materialized in a good or proprietary interest that the citizen can keep using and take advantage of. When the owner of that property understands that he must dispose of that property, he can do so freely.

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Property Rights
Carlos E. Diaz Olivo
July 5, 2022
Law 52: the latest nonsense of the Puerto Rico legislature

Labor reform: thickening the bureaucracy

Limited Government /

What is going to happen, write it down, is that entrepreneurs, large or small; merchants who will be affected in one way or another, will pass the blow to the consumer. That is not talked about. The governor did not mention it in his "vibrant" speech when signing the law. But it is something that cannot be avoided. The increase in the mesada, in the Christmas bonus or whatever, is going to be paid by the consumers in the can of sausages.

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Limited Government
Mayra Montero
June 22, 2022

The reform of the labor reform: blow to competitiveness

Free Market /

Instead of taking advantage of and promoting competition between the business sector, in order to ensure that they offer better compensation arrangements and employment conditions to attract the best available talent, the reform of the labor reform equalizes for all economic agents the basic costs of human capital, eliminating the aggressive competition that otherwise would have arisen.

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Free Market
Carlos E. Diaz Olivo
June 21, 2022

Market concentration: source of inflation at the local level?

Free Market /

By 2017, Puerto Rico had fewer registered establishments than each of the 50 states, adjusting for population, implying a higher market concentration in Puerto Rico, on average, than in the United States. These market shares have historically been divided among no more than 4-5 major competitors. Firms in concentrated industries, due to little competition, may raise prices in the face of increases in their costs above what they would rise in a competitive market.

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Free Market
Emanuelle Alemar
June 9, 2022

The states and territories, their domestic migration and the economic liberty

Migration /

Migration is used as a factor to assess the economic freedom of regions, states, and localities. When we investigated the inbound and outbound domestic migration trends of the US, from 2011 to 2019, we found that states and territories where economic freedoms were promoted had higher inbound migrations.

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Migration
Milton J. Quiles
May 25, 2022
The states and territories

Entrepreneurship or populism: the two routes for Puerto Rico

Economic Liberty /

Faced with the failure of the State and with it the ability to finance populist measures, there is no other route than to build a society and an economy based on entrepreneurship and business initiative. Individual freedom and the promotion of self-effort as guiding principles of a new socioeconomic model supposes a complete reengineering of the prevailing thought during the second half of the 20th century and so far in the 21st century.

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Economic Liberty
Gustavo Velez
May 10, 2022

Salinas, sad reflection of Puerto Rico

Rule of Law /

For those of us who have spent years navigating the tortuous planning and permitting process on the Island, it is obvious that there are anti-development visions and forces, of government leadership and with little respect for the right to use and enjoy private property. This vision permeates multiple laws and regulations, including the Land Use Plan. The timidity of our rulers and the lack of a firm public policy for economic development, articulated and based on science, not on electoral fears or on social networks, permeates even the desks of the officials responsible for the evaluation and granting of permits.

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Rule of Law
Rafael Rojo
April 26, 2022

Supply crunch should spur states to pursue licensing reform

Occupational Licenses /

In today’s difficult labor market, it’s important that we remove unnecessary red tape. State legislatures may have good intentions when they pass licensing laws, but they make it more difficult for people to enter professions or start businesses. State governments shouldn’t be making matters worse with unnecessary barriers to opportunity.

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Occupational Licenses
Conor Norris
April 19, 2022
Supply crunch should spur states to pursue licensing reform

The Culture of Sloth: Puerto Rico’s Addiction to Federal Funds

Articles /

Now that Puerto Rico is out from under the crushing weight of gigantic debt, where is it headed? Will it get deeper and deeper into dependence on federal funds, or will it revive economic growth through job-creating private investment? As Heidie Calero, for many years one of Puerto Rico’s top economists, put it in a recent column: Is it Operation Handout or Operation Bootstrap?

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Articles
Alex W. Maldonado
March 31, 2022
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