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Challenges to Classical Liberalism

Juan Lara

August 11, 2023

Free-market economy is an economic system with proven effectiveness in coordinating the efficient use of a society’s resources and promoting productive innovation but, like any human institution, it faces challenges that can hinder its proper operation and warp its results. An array of improper, and even illegal, behaviors divert the legitimate business goal of making profits toward a pursuit of profit that is disconnected from productive activity and focused on the exploitation of advantages and privileges. These practices include rent-seeking, clientelism, nepotism, cronyism, and—in extreme cases—corruption.

What is the Jones Act, and why does Puerto Rico want it gone?

Matt Pearce
August 5, 2022

For years, Puerto Rican politicians have complained that forcing the U.S. island territory to rely on American-flagged ships — even with foreign ships in abundance in its ports — drives up the cost of basic goods there. The cost of living is higher on average compared with the mainland.

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