The Great Recession of 2009

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.

Trabajadores

La crisis fiscal y económica por la cual atravesamos en Puerto Rico y a nivel global, ha resaltado muchas de las diferencias de percepción e interpretación de los eventos entre trabajadores y patronos. Ambos lados reaccionan con preocupación. Pero sus propuestas en la mayoría de los casos son muy diferentes.

Puerto Rico’s Anemic Private Sector

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.

The Dangers of (de)Globalization

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.

Propósito

Algunos lloran. Otros ríen. Muchos se deprimen. Todo el mundo reacciona a la crisis y a la adversidad de maneras distintas. No soy sicólogo, pero asumo que lo importante en estos asuntos no es tanto cómo reaccionar sino entender lo que está sucediendo y asumir responsabilidad.

The Rule of Law and the Enforcement of Contracts

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 – rules 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.”

Seeing Things in their Precise Shape and Color

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.

La experiencia de Nueva York

Cuando publicamos nuestro Informe de CNE/Brookings hace dos años, de las primeras presentaciones que hicimos fueron las de Nueva York. Era vital para nosotros llevar el mensaje de la situación económica de Puerto Rico a un grupo importante de nuestra diáspora.