Enlightened ramblings of a minarchist libertarian with Objectivist tendencies

Monday, July 19, 2004

Economic Freedom of the World

Cato Institute has just released (in conjunction with the Fraser Institute and more than 50 think tanks around the world) Economic Freedom of the World: 2004 Annual Report. The report is a measure of economic freedoms enjoyed within the world's countries. Here is the top 10 list and scores (out of 10):

    Hong Kong (8.7)
    Singapore (8.6)
    New Zealand (8.2)
    Switzerland (8.2)
    United Kingdom (8.2)
    United States (8.2)
    Australia (7.9)
    Canada (7.9)
    Ireland (7.8)
    Luxembourg (7.8)

Earlier in the year Heritage Foundation released its 2004 Index of Economic Freedom. Here are the top 10 countries and scores (lower is better):

    Hong Kong (1.34)
    Singapore (1.61)
    New Zealand (1.70)
    Luxembourg (1.71)
    Ireland (1.74)
    Estonia (1.76)
    United Kingdom (1.79)
    Denmark (1.80)
    Switzerland (1.84)
    United States (1.85)

Obviously, they use slightly different criteria/methodology for coming to their respective lists, but the top 3 countries are the same in both.

The problem I have is that the United States, the "Land of the Free," is not at the top of either list. Years of socialist encroachment on our economy has reduced us to a lower amount of economic freedom than is acceptable in my view. We are on a dangerous course and if current trends continue, within the next few years we may very well slip from the top ten.

As economic freedom goes, so goes freedom and prosperity in general. It is time to remove all economic leftists from positions of power within our government before we find ourselves next to countries like Swaziland and Georgia.


Post a Comment

<< Home