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“We’re #12!”

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“We’re #12!”

US drops to 12th in economic freedom. Great job, guys.

According to the most recent Economic Freedom Index, the US has now dropped to 12th among 152 countries in terms of economic freedom.

The index, developed by free market think tank The Cato Institute and Canada’s Fraser Institute, has been published for over six decades.  From Breitbart.com:

As recently as 2000, the US ranked 2nd in the world, in terms of boasting a free economy. The US's declining ranking will lower future economic growth. 

"This is nothing less than pathetic." 

The index, built on decades of research by Nobel laureates and dozens of leading scholars, measures 5 broad factors that impact the economy: 1. Size of government; 2. Legal structure and security of property rights; 3. Access to sound money; 4. Freedom to trade internationally and; 5. Regulation of Credit, Labor and Business. Countries where citizens are freer to engage in business and trade and property and legal rights are protected by the rule of law will score higher on the index. According to economic research, though, these countries will also do better economically and create and generate more wealth. 

The 10 freest economies in the world are: Hong Kong, Singapore, New Zealand, Switzerland, Mauritius, United Arab Emirates, Canada, Australia, Jordan, and Chile and Finland tied for 10th. 

This is nothing less than pathetic.  That the engine of prosperity that has been the entrepreneurial US economy – a prosperity driven by free market principles and the extraordinary creativity and innovation arising therefrom – has been so hampered by bureaucratic overreach and social engineering that we rank below such economic powerhouses as Mauritius and Jordon is both disgraceful and tragic.  And we wonder why the most recent “recovery” has been the most anemic in modern US history?  We wonder why middle class incomes are stagnant?  We wonder why we’re at record lows in workplace participation?  Get a clue, people.

Again, a reminder: Elections are right around the corner.

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Angus DuBois
Angus DuBois
Angus DuBois is the nom de plume of an entrepreneur of 20 years who, in cowardly fashion, prefers to keep his/her business identity a secret. Comments can be forwarded to angus@nexxuspublishing.com.

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