We need to promote laws that encourage the growth of new companies and ecosystems of innovative services. In the near future, the emerging and vibrant economies will be those that enrich and promote the generation of services based on the talent of human capital. We need to transform the talent market and create a legislative framework that facilitates labor flexibility.
Puerto Rico needs a state-of-the-art labor context Read More »
The governments in power (each one for a single four-year term) moved away from the possibility of promoting a long-term economic project and focused on managing the crisis within the political restrictions imposed by the four-year term. Politicians' addiction to taxes and debt to artificially keep the government apparatus alive cemented a narrative that government was essential at the expense of the productive sector. The government itself has created a dangerous spiral of economic contraction with higher taxes and spending.
Populism and the economic failure of Puerto Rico Read More »
The extension of the principle of equality to the rules of social and moral conduct is the main expression of what we commonly call the democratic spirit, and, probably, this spirit is what makes the inequalities that freedom inevitably provokes more harmless.
Hayek in The Foundations of Liberty: On Merit, Equality, and Social Justice Read More »
Last year, Gov. Ron DeSantis (R) signed a bill that fundamentally changes the state’s permitting process for home building. It requires local jurisdictions to post online not only their permitting processes but also the status of permit applications. The transparency takes a good amount of mystery out of what can be an inscrutable branch of bureaucracy.
Florida started penalizing bureaucratic delay. Housing permits spiked. Read More »
Unlike government-imposed privileges, markets are impartial observers of value. Political connections are unnecessary for actors to succeed in the free market; only the willingness to employ one's talents to serve consumers will reap success.
We need more inequality, not less Read More »
One of the big problems we have in Puerto Rico is the worldview that the population has in relation to the functions of the state. We have become accustomed to seeing the government as the one that has to solve social problems, we justify its meddling in economic aspects and we even pay homage to politicians by treating them with certain airs of royalty.
Puerto Rico urgently needs a facilitating government and a decentralized economy Read More »
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.
Law 52: the latest nonsense of the Puerto Rico legislature Read More »
The airport looked like something out of the 1950s: shabby hallways, a generic media outlet, a generic restaurant, and a few tacky souvenir shops. All that changed after San Juan's Luis Muñoz Marín International Airport (SJU) was privatized in 2013. Underlying problems were far more serious.
How Privatization Has Transformed San Juan’s Airport Read More »
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.
Labor reform: thickening the bureaucracy Read More »
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.
The reform of the labor reform: blow to competitiveness Read More »
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