According to the World Bank, Puerto Rico has one of the ten lowest labor participation rates in the world. Only 4 out of every 10 people who can work are currently employed or actively seeking employment. Economists have constantly pointed to this statistic when they talk about Puerto Rico’s recession but little, if anything, has been done to try to fix it.
Popular folklore states that exceedingly generous welfare benefits are the root cause of low labor participation. This welfare has enabled multiple generations of (vagos) lazy people to live off the state without contributing their fair share to the […]
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