Articles

While even the world’s poorest economies have become richer in recent decades, they have continued to lag far behind their higher-income counterparts – and the gap is not getting any smaller. According to this year’s Nobel Prize-winning economists, institutions are a key reason why. From Ukraine’s reconstruction to the regulation of artificial intelligence, the implications are as consequential as they are far-reaching.

The extreme polarization facing national politics, and the unprecedented indebtedness of the federal government represent a dangerous situation for Puerto Rico.

The independence plan manifests reticence towards private economic activity, considering the judgment of state bureaucrats superior to that of the citizen regarding what is in his best interest, writes Carlos Díaz Olivo.

I am not afraid of communism, because in practice, it is unfeasible for that type of system to be implemented on the Island. I do fear that we continue tolerating and consenting to the design of light socialism that prevails on the Island, which after the government's bankruptcy in 2017, ceased to be viable.

There is no state bankruptcy process, and a lot of domestic opposition to creating one, so a future State of Puerto Rico should be fully out of bankruptcy court and able to avoid future bankruptcies on its own.

Advocacy of "socialism," which the United States Socialist Party defines as a "social and economic order in which workers and consumers control production," has resurfaced in U.S. politics in recent years. Public figures such as Vermont Senator Bernie Sanders sing its praises. But the truth is that socialism profoundly undermines people's ability (and motivation) to improve their own living conditions. The misery that socialism has caused millions of people refute its promises, in a terrible way.

It's difficult to acquire a home at a "good price." The Truth as it is... the factors that affect the cost of housing on the island.

“Feudalism, communism, fascism, that’s divisive,” he replies. “All are based on getting resources by taking them from somebody else. Capitalism forces us to think, ‘What does the other guy want?’ The most important aspect of capitalism is cooperation.” That’s “why every time you buy something, you hear this double, ‘Thank you.’” “The closer people live to marketplaces, the more generous they are,” explains Norberg. “If they constantly buy and sell and negotiate, they begin to take other people’s interests into consideration. That’s what markets do. They do affect our character, but not in this way that the critics say. They don’t make us more divisive and aggressive. They make us more generous.”

The call for new or improved constitutions has become a fashionable and enthusiastic rallying cry for politicians, ideologues, and intellectuals throughout the twentieth and twenty-first centuries. The emergence of new states, revolutions, political upheavals, aspirations for salvation, crises, or defeated states seeking a fresh start are among the reasons that our modern world is increasingly populated with modern constitutions. The ultimate aim of this popular exercise is the creation of a Magna Carta that will rectify the wrongs of the past, paving the way for a bright new future.