Thursday, September 20, 2012

America Drops To 18th Most Economically Free Country in the World

Earlier today, the Fraser Institute released its “Economic Freedom of the World: 2012 Annual Report.” Analyzing data from 144 countries based on 42 distinct variables, the study’s authors rank countries according to their relative level of economic freedom.
After ranking 2nd in 2000, the U.S. falls to 18th in this year’s report. As the authors explain:
“[T]he United States has fallen precipitously from second in 2000 to eighth in 2005 and 19th  in 2010 (unadjusted ranking of 18th). By 2009, the United States had fallen behind Switzerland, Canada, Australia, Chile, and Mauritius, countries that chose not to follow the path of massive growth in government financed by borrowing that is now the most prominent characteristic of US fiscal policy. By 2010, the United States had also fallen behind Finland and Denmark, two European welfare states. Moreover, it now trails Bahrain, the United Arab Emirates, Estonia, Taiwan, and Qatar, countries that are not usually perceived of as bastions of economic freedom.”
The Fraser Institute’s full report is available below and on the Economic Freedom Network website.


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