From The Derbyshire Email Bag (4) "How To Turn Puerto Rico Into Hong Kong"

By John Derbyshire

05/04/2016

ROFL headline of the week:
How to turn Puerto Rico into Hong Kong

by Stephen Moore and Arthur Laffer

Washington Times, May 1 2016

… Why not turn Puerto Rico into a Hong Kong in the western hemisphere through new rounds of tax, regulatory, property rights, and welfare reforms? The first step is to restructure the debt and then jump start the dormant private economy so that the standard of living starts rising again. It worked 40 years ago and it can work again in 2016.

OK, let’s see. Mean IQ in Puerto Rico: 83.5. Mean IQ in Hong Kong: 108.

The reader who sent me that link suggested I do a follow-up to my "Magic Dirt" column: one on "Magic Tax Theories."

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