Much of the world continues to gain greater levels of economic freedom, according to a new report
by the Canada-based Fraser Institute ranking more than 150 countries on
everything from personal choice to security of private property.
Research and studies show the trend should bring more prosperity, longer
life spans, and more political freedom as well. But the news is less
rosy for the United States — once the most economically free nation on
the planet — as the policies of successive congresses and presidential
administrations caused a steep decline in the U.S. position on the
important index in recent years.
With America now tied with the United Kingdom for 12th place worldwide, it is up slightly from 2012, when the United States plunged to its lowest-ever 18th place ranking after unprecedented government spending and borrowing, bailouts of crony capitalists and mega-banks, and other fiascos. By 2013, America ranked 17th.
However, despite the slight improvement, the United States still lags behind countries such as Canada, Switzerland, New Zealand, and others when it comes to economic freedom.
“The United States has suffered from a weakened rule of law, the ramifications of wars on terrorism and drugs, and a confused regulatory environment,” explained Michael Walker, a senior fellow at the Fraser Institute and co-founder of the Economic Freedom of the World project. “Consequently, it’s dropped from second place in the world rankings in 2000 to 12th place this year, five spots behind Canada.”
Read more: On Economic Freedom, America Still Lagging Behind
With America now tied with the United Kingdom for 12th place worldwide, it is up slightly from 2012, when the United States plunged to its lowest-ever 18th place ranking after unprecedented government spending and borrowing, bailouts of crony capitalists and mega-banks, and other fiascos. By 2013, America ranked 17th.
However, despite the slight improvement, the United States still lags behind countries such as Canada, Switzerland, New Zealand, and others when it comes to economic freedom.
“The United States has suffered from a weakened rule of law, the ramifications of wars on terrorism and drugs, and a confused regulatory environment,” explained Michael Walker, a senior fellow at the Fraser Institute and co-founder of the Economic Freedom of the World project. “Consequently, it’s dropped from second place in the world rankings in 2000 to 12th place this year, five spots behind Canada.”
Read more: On Economic Freedom, America Still Lagging Behind
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