Economic Freedom in the US
The US has fallen to eighteenth in the world in economic freedom according to Canada’s Fraser Institute and the Cato Institute. We’re not even first in the Western Hemisphere, we’re third! Behind Canada! And Chile!?
But America is the land of the free and the home of the brave- so are we slipping?
No, there is nothing to fear. Regardless of our rank in the so-called “economic freedom index”, we are the most powerful and best empire in the history of the world. So we must do something right, right?
Obviously that is the case. All this ranking says to me is that there is an optimal level of freedom that will result in the highest overall wellness of the population. Until we are surpassed by another country (well other than Luxembourg I guess) in a measure such as household income, we need to keep doing what we are doing.
We have been moving steadily down in our rating since the year 2000, and from 1980 to 2000 we were steadily in third place behind Hong Kong and Singapore. Yet despite moving down, we just keep getting richer (well, at least as long as you’re in the top 10 percentile I guess).
Rather than ask what we need to change to move higher in the index, maybe the countries ahead of us should be asking what regulations and legislation they can implement to be more like us.