We’re Number 19; We’re Number 19…
The United States has experienced a substantial decline in economic freedom during the past decade.
- From 1980 to 2000, the United States was generally rated the third freest economy in the world, ranking behind only Hong Kong and Singapore.
- After increasing steadily during the period from 1980 to 2000, the rating of the United States fell from 8.65 in 2000 to 8.21 in 2005 and 7.70 in 2010.
- The ranking of the United States has fallen precipitously from second in 2000 to eighth in 2005 and 19th in 2010 (unadjusted ranking of 18th).
More on the decay of America’s economic freedom.
That’s a shame. Sadly, this does not surprise me.
Bush policy was very pro-entitlement, and that continued into Obama. Hard to maintain economic freedoms when you’re too busy redistributing to give everyone a “fair chance” at the economic dream.
How closely is this “economic freedom” index associated with prosperity/growth/overall national well-being?
Progressive Policy Wonks often tout the benefits of the political freedom to elect our own representatives. To such ends, they oppose any efforts to require proof of identification for voters. Supposedly, people should get such pleasure from their biannual trek to the voting booth.
What policy wonks often fail to appreciate is that economic freedom is really the reason people even bother to vote. I vote, but I don’t get any pleasure from it. Rather, it’s a responsibility. What I do get pleasure from (or would if it existed) is the economic freedom to keep what I earn and decide how it’s spent.
So Devon, by your theory, wouldn’t the American people be less happy now than they were in previous years if their economic freedom has truly been eroded?
Also, political freedom has little to do with pleasure, and much more to do with civic duty to maintain and strengthen our system of government and the freedom to express your political beliefs at the ballot box.
Why doesnt this shock me..
Adding insult to injury, our 19th place puts us behind nations such as Denmark, Estonia and the UAE.
This is disgusting.
Canada is beating us? Say it ain’t so!
It’s interesting to see that Chile, as a third world country, is better off than the US. Judging by the stats on this piece, third world countries are not that bad after all…
Economic freedom inherently carries risk, which is something both parties like to ignore. Democrats like to shield tax revenue from economic downturns and failures, while Republicans like to shield businesses.
Both are incorrect.
Markets must be allowed to adjust on their own terms to provide for the greatest economic efficiency. Regulation, pro-business or not, just gets in the way.
I agree with Alex; markets must be able to freely adjust and allocate resources. However I still maintain that government and regulation is necessary it just needs to be unobtrusive.