Economic Freedom – Why Isn’t the USA Number 1?
by Chuck Donovan
Since 1996 the Cato Institute has published and Economic Freedom of the World Annual Report. US citizens used to participating in energetic chants of “USA, Number One!” and unchallenged statements such as, “We are the most free country in the world!”, will be surprised to see our country not listed as Number 1. The US based Cato Institute ranked us a little below Number 1
The United States as number 18.
The report is interesting not only because of its honest assessment of national rankings, but because its data points to direct links between economic freedom and prosperity of the average citizen in each country. Clearly the data shows that more economic freedom directly improves the lives of millions of people, a point Libertarians have been shouting since 1971.
Next month we can expect the most recent Economic Freedom of the World rankings to be published by the Cato Institute. What do you think? Consider what decisions we have made over the last year and tell me, will the new report rank the USA Number 1?
The world faces the worst economic situation it has ever seen. Massive debts have been piled up. Nothing good can come of this.
Massive amounts of regulation, economic intervention, and bureaucratic oversight stand as roadblocks to our basic freedoms of trade, contract, and association.
When the weight of our debts becomes evident to the biggest doubters among us, what will be the cry? Will it be for more regulation and government control, or for more economic freedom?
The data from the Cato Institute shows that prosperity comes from freedom.
Don’t be afraid to let freedom win.