Articles

The merit system emerged in the Chinese government in the years before Christ. China's great contribution to universal culture has been the invention of the meritocratic civil servant. The Chinese established an efficient, open and secular bureaucracy, selected on the basis of talent, merit and scholarship. This system not only ensured the permanence and flourishing [...]

Official government measures greatly exaggerate income inequality by ignoring taxation and noncash sources of income.

As a former attorney general of the United States, I find it crucial to shed light on a recent court ruling in Puerto Rico that demands our attention. The decision made by U.S. District Judge Laura Taylor Swain in the bankruptcy proceedings of the Puerto Rico Electric Power Authority (PREPA) has profound implications, particularly for the fairness and efficiency of capital markets, as well as the access of state and local governments to municipal bonds.

The fundamental reality is that more money does not create any new goods or services in the economy. Money is not wealth. Wealth is productive capacity; the ability to create actual goods and services.

Those who, in my opinion, will be the most important influencers of the next General Elections in Puerto Rico are already presenting themselves in society: the super PAC's, particularly the one created by the country's industrialists called "Democracy is Prosperity".

On June 30, 2020, Thomas Sowell turns 90. He is one of the most important economic and social thinkers of the last 50 years. I say that, recognizing that his career overlapped such luminaries as Friedrich Hayek and Milton Friedman. Sowell also has been one of the most prolific social‐science writers of his era, as evidenced by the fact that his birthday also marks the publication of his latest book: Charter Schools and Their Enemies.

Big government is a far heavier burden to those who start out without privileges and advantages. No one has seen entrepreneurship help minorities improve their economic circumstances more than I have—and that’s not only because I’m 93. I saw the power of entrepreneurship firsthand after co-founding the Home Depot.

It is unbelievable that after the governmental bankruptcy, the public and productive management model of the island is still tied to a large and intrusive government in our daily activities. Chilean lawyer and political scientist Axel Kaiser, considered among the most influential voices on economic issues, said at a conference on the island that to