Index of Economic Freedom 2012

We have almost dropped out of the top ten in economic freedom. We have been getting worse while others are getting better. Among others, we now fall behind Canada, Australia, New Zealand & Switzerland. These are places that we thought of as having more intrusive governments than ours. America used to be among the freest. Things change.

I don't worry about the exact rating, although the trends are troubling.

We hear a lot of talk about socialism these days. The term "socialism" has lost most of its original meaning and it is hopelessly old-fashioned and one dimensional. The Index of Economic Freedom considers a wider variety of measures. The Index covers 10 freedoms - from property rights to entrepreneurship - in 184 countries. This gives you a better picture of the places. Some are "socialist" in that government owns or controls lots of enterprises, but are not very corrupt; others allow relatively free investment but don't really protect property rights. Only a few do most of the good things or most of the bad things. You can explore the reports yourselves.

Economic freedom is related to other sorts of freedom and to prosperity. It is hard to have political freedom if the government is the only employer. It is better to have your employer and your government separate. Concentrations of power are always threats to liberty.

The economically un-free places are not always horrible and the free places are not always paradises, but if you look at the index, there is a definite trend as you move from pleasant free places like Canada, Australia and the U.S. to rotten unfree places like Venezuela, Cuba, North Korea or Zimbabwe.

Posted by Christine & John at January 13, 2012 8:59 PM
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Agree, C&J, it’s like we are riding along on a cross-country train trip, taking note of the scenery, temperature, and economic climate. Just merely noting things of interest from day to day. Few seem to care that the same crop of legislators that gave us the commodities futures modernization act of 2000 and host of similar legislation over the years are still in place and living big. Few seem to weigh President Obama’s plan to save $3B over 10 years by consolidating some federal components. Pales with the $4B/monthly increase in federal debt and with the $1.5T proposed budget increase. A quick approval of the increase and the gov’t won’t have to address the debt until after the Nov elections.

Things do change. But, with globalization, our change has been more/less negative, excluding the off the charts growth in income at the top. Education, healthcare, housing, economy, are all trending negative and, I agree the exact rating is hardly something to worry about.

Also, agree that concentrations of power will eventually getcha. Like when corporations form monopolies and conglomerates then rush overseas to find slave labor and pollute at will. Can you imagine Trinidad/Tobago telling Microsoft or Exxon to cool it or leave the islands?

I can’t agree with you on the ‘socialist’ thing. I believe the original meaning portends to something like ‘a small vocal minority in control of a larger silent majority’. If that is a reasonable definition then I would say the US is the largest socialist country in the world. That is, we all believe that money is free speech, do we not?? And, isn’t it all that free speech from the small vocal minority that elects/supports the gov’t that controls the larger silent majority, or am I being to fallacious here?

Well, most of us aren’t looking to be socialist and it seems a logical step to correct the situation would be to give the other 99% more free speech. Easily done by raising the amount one can give to a candidate from $2500 to say, $2M. That would allow those in/near poverty to have a stronger voice in their gov’t, IMO.

Otherwise - - -

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China’s ranking of 135 suggests that Wall Street investors aren’t overly concerned about the Index of Economic Freedom.

Posted by: jlw at January 14, 2012 1:25 AM
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Wouldn’t you know - some talking heads on FOX today suggesting that raising the amount one can contribute is the way to our salvation. We are fer shure lost, IMO

Otherwise - - -

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Roy Ellis, Yup! Speech in America is free. Mass Communication is an entirely separate matter. All Americans are free to speak. Only a few can afford to communicate to the rest of Americans. That kind of control over what people hear, is proving to be increasingly debilitating to our democratically elected republic form of government, along with the Senate filibuster rule :-(

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