We’re number 18! We’re number 18! Doesn’t exactly have a great ring to it, does it? Check out the newly-released report (full ranking is on page 10 of the downloaded document) from our friends at the Fraser Institute. Not surprisingly, while the Obama Administration’s policies has hastened our fall from number 3 back in 2000, President George W. Bush played a big role in the downfall of the US on this all-encompassing report on economic freedom.
A few countries that have surpassed us in terms of economic freedom followed by their ranking:
Hong Kong 1
Canada 5
Mauritius 8
Chile 10
Estonia 14
Qatar 17
If you are interested in finding out more about this index and the decline of the US economy, check out this podcast interview with one of the authors from Cato Institute.
Certainly I wish we were higher on the list but look who is higher. Hong Kong is ruled by China! Canada has socialized healthcare. Chile is in decline and Qatar? Give me a break.
I have long been a skeptic of this “economic freedom” measure since it omits non-economic freedom. I don’t think you can separate the two so neatly.
With the rise of John Allison to the head of Cato perhaps there can be an integration of economic and non-economic freedom. And perhaps Cato can aid in raising the American level of freedom — both economic and non-economic.
The sad thing is that Canada’s score takes its socialized medicine system into account. They are so much more economically free that their crappy health care system does not drag them down to our level! I think this is a good measurement tool and, of course, without economic freedom there is no social freedom.