The Fraser Institute produces an annual report called Economic Freedom of the World. The index measures the degree to which the policies and institutions of countries are supportive of economic freedom. The cornerstones of economic freedom are personal choice, voluntary exchange, freedom to compete, and security of privately owned property. Forty-two variables are used to construct a summary index and to measure the degree of economic freedom in five broad areas:
- Size of government
- Legal structure and security of property rights
- Access to sound money
- Freedom to trade internationally; and
- Regulation of credit, labor and business
In 2000 the United States was ranked 2nd. By 2015, we’ve plummeted to 16th. The decline in U.S. ranking started in 2010 … the first year data from the Obama administration was used. That is not just a coincidence. He promised us change, and that’s just what we got … a change in economic freedom that has grown progressively worse with each year he’s governed.
The top ten world rankings are as follows:
- Hong Kong
- Singapore
- New Zealand
- Switzerland
- United Arab Emirates
- Mauritius
- Jordan
- Ireland
- Canada
- United Kingdom and Chile (tied)
This study is frighteningly eye-opening. In Singapore you can go to jail or be flogged for chewing gum in public, yet they rank 2nd in economic freedom. Even the United Arab Emirates, which enforces Sharia law, has more economic freedom than the United States! How sad is it that a country where women have virtually no rights at all have more economic freedom than we do?
This year we will select a new President. Americans need to think long and hard before casting their vote. I don't care if you are a Republican or a Democrat ... the fact that we have plummeted from 2nd to 16th in economic freedom under Obama should scare the crap out of you. I truly fear for the future of our country.
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