CNE – Centro Para Una Nueva Economía – Center for a New Economy
Non-profit, economic research and policy development organization
Some economists in the U.S. have started to talk about the Great Recession of 2009 when analyzing the current economic downturn. In the U.S. alone, home equity lost, between 2006 and 2008, $4.2 trillion; the value of retirement assets has declined by $2.3 trillion; while other investments and savings show losses of an additional $2.5 trillion.
In this paper we examine the establishment and operations of a CDA program in Caguas, Puerto Rico. This program affords us an opportunity to test whether asset-building policies can provide a new approach to social welfare in Latin American countries and Hispanic communities in the United States, a middle way between paternalistic, government-based social programs on the one hand and so-called neo-liberal approaches on the other.
La crisis fiscal y econ贸mica por la cual atravesamos en Puerto Rico y a nivel global, ha resaltado muchas de las diferencias de percepci贸n e interpretaci贸n de los eventos entre trabajadores y patronos. Ambos lados reaccionan con preocupaci贸n. Pero sus propuestas en la mayor铆a de los casos son muy diferentes.
Professors Steven Davis and Luis Rivera Batiz, in an analysis conducted for their contribution to the book The Economy of Puerto Rico: Restoring Growth, published in 2006 by the Center for the New Economy and the Brookings Institution, found that a “truly striking feature of Puerto Rico’s economy is the underdeveloped state of its private sector.” According to their analysis, private sector employment rates in Puerto Rico are less than half the U.S. rates in recent decades.
Between 1870 and 1914 the world lived the high point of the first era of economic globalization. The globe was effectively connected through railways, steamships, and telegraph lines.
Algunos lloran. Otros r铆en. Muchos se deprimen. Todo el mundo reacciona a la crisis y a la adversidad de maneras distintas. No soy sic贸logo, pero asumo que lo importante en estos asuntos no es tanto c贸mo reaccionar sino entender lo que est谩 sucediendo y asumir responsabilidad.
The rule of law is one of the most important institutions for economic development. For Friedrich von Hayek, Nobel prize winner in economics, the rule of law meant that “government in all its actions is bound by rules fixed beforehand 鈥撀爎ules which make it possible to foresee with fair certainty how the authority will use its coercive powers in given circumstances and to plan one’s individual affairs on the basis of this knowledge.”
The current economic situation, both locally and globally, is the most complicated the world has seen since the Great Depression. In the midst of all this complexity is it imperative that we see things as they really are in order to properly diagnose the situation and to prescribe the correct course of action.
