Survey on the Free Market in Puerto Rico published

Photo: Puerto Rico Posts [Suministrada]

The Institute for Economic Liberty (ILE) published the results of a study on the knowledge of and affinity for free market principles in Puerto Rico. The study covered the four main pillars of the free market: "Individual Freedom," "Rule of Law," "Right to Private Property," and "Limited Government," and topics such as "Puerto Rico's Current Situation," "Social Assistance," and "Meritocracy," among others.

The report entitled "The Free Market in Puerto Rico 2022" highlights that the participants broadly support the free market system and consider that it does not have the weight it should have on the Island; for example, 99.6% of the sample states that people should have the freedom to make decisions in search of their own well-being; and 97% express that they should be able to earn an honest living in whatever they wish, without obstacles from the government.

Although participants are divided as to how they evaluate their personal economic situation, 88% responded that Puerto Rico's economic situation is bad or very bad. Moreover, 92% believe that the direction of the island's economy is bad or very bad. These results indicate that a large majority of people have a negative perception of the local economy, although many do not feel personally at risk.

The report was conducted by Dr. Ángel Carrión Tavárez, director of Research and Public Policy at ILE; Dr. Luz N. Fernández López, a researcher at ILE; and Dr. Juan Lara, economist and professor at the University of Puerto Rico. The first two oversaw the design of the study and the construction and administration of the questionnaire, which consisted of sociodemographic data of the participants and 25 multiple-choice questions or statements.

Those who answered the questionnaire believe in individual responsibility and self-effort to satisfy desires and achieve personal aspirations. "From the perspective of a change from a welfare model to one of economic mobility in Puerto Rico, it is significant that 98% of those surveyed say they are capable and responsible for achieving their goals and 93% say they prefer to earn a living by working," said Dr. Carrión Tavárez.

This News article was published originally in Spanish by Puerto Rico Posts.

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