Economic freedom has been shown in numerous peer-reviewed studies to promote prosperity and other positive outcomes. It is a necessary condition for democratic development.
The classic definition of economic freedom is:
Individuals have economic freedom when property they acquire without the use of force, fraud, or theft is protected from physical invasions by others and they are free to use, exchange, or give their property as long as their actions do not violate the identical rights of others. An index of economic freedom should measure the extent to which rightly acquired property is protected and individuals are engaged in voluntary transactions.
The Fraser Institute reports for North America measures subnational economic freedom looking at the impact from cities and states/provinces and then all government includes federal and the lower levels of government.
Canada’s economic freedom scores are falling slower than the US scores. Canada fell from 7.7 in 2000 to 7.4. The USA fell from 8.2 in 2000 to 7.3.
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Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
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