Puerto Rico is at a transcendental moment in its history, where the decisions we make today will impact the future of our youth. In this crucial scenario, it is imperative to reflect on the vital role that the free-market economy plays in the development and prosperity of our island.
The free market is not merely an economic system; it is a catalyst for progress and innovation. When market forces are allowed to operate without undue hindrance, it creates an environment conducive to the generation of wealth and opportunity. This is a crucial factor in empowering our youth by providing them with the necessary tools through policies that seek to reduce government bureaucracy, thereby establishing limited government and decreasing the tax burden on our citizens in a way that does not penalize wealth creation.
Historically, nations that have embraced the free market have experienced sustainable economic growth and a significant improvement in the quality of life of their citizens. It is time for Puerto Rico to leave populism behind and take full advantage of this potential by cultivating a vibrant entrepreneurial environment that fosters creativity and initiative.
In Puerto Rico, where youth unemployment and emigration rates are persistent concerns, a change of perspective is needed, says Jonatan Benítez. (Shutterstock)
Wealth creation should not be condemned but encouraged as an engine of progress. Successful businesses not only generate higher paying jobs for our recent graduates, but also contribute to the general welfare through investment in infrastructure, social services, and educational programs. These benefits are essential for the integral development of our young people.
In Puerto Rico, where youth unemployment rates and emigration are persistent concerns, a change in perspective is required. Fostering a strong business environment will not only retain young talent on the island, which has shown interest in migrating to states with higher rates of economic freedom but will also attract investment and create opportunities for long-term local economic growth.
Furthermore, it is crucial to understand that the free market is not incompatible with social responsibility. Businesses can and should play an active role in building strong, sustainable communities. Investing in educational programs, promoting community development initiatives, and adopting sustainable practices are essential steps to ensure that economic progress goes hand in hand with social well-being.
In conclusion, Puerto Rico has the opportunity to build a vibrant future for its youth by embracing and empowering the free market economy. This is not only a call to economic action, but also to investment in the island's human capital. In doing so, we will not only be ensuring economic prosperity for our youth today, but also building a solid foundation for generations to come. The choice is ours, and the door to a prosperous future is open if we choose to walk through it with determination and vision.
This article was originally published in Spanish in El Nuevo Dia.
