The Babe Theory Of Political Movements.
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Iran's Sham Election In Houston.
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Yes, Kanye, Bush Does Care.
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Health Care vs. Wealth Care.
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Americans Voting With Their Feet.
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Idea Majorities Matter.
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Twilight Zone Economics.
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The "Shrinking" Middle Class.
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From Ashes, GOP Opportunities.
Dec. 18, 2006 6:37 PM
Battle Between Entitlements & Pork.
Dec. 21, 2006 12:31 PM
Let Economic Freedom Reign.
Dec. 22, 2006 10:22 PM
Biggest Health Care Moment In Decades.
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Unions Antithetical to Liberty.
May 28, 2008 11:12 PM
Right To Work States Rock.
June 9, 2008 12:25 PM
Social Security Reform Thursday.
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The Carnival Of Classiness.
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Quotational Therapy: Obama.
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Mainstream Melee: Wolfowitz.
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Pundit Roundtable: Leaks.
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Trivia Tidbit Of The Day: Part 168 -- Economic Freedom.
The Power Of Economic Freedom-
Economic freedom is a powerful force. The Cato Institute explains that economic freedom is a key that can unlock the greatness of a society. Indeed, there is power in economic freedom:
The experiences of Ireland, New Zealand and Iceland illustrate the importance of economic freedom.
And the rankings for 2005 are out. There's reason for optimism:
This year’s report notes that economic freedom remains on the rise. The average economic freedom score rose from 5.2 (out of 10) in 1985 to 6.4 in the most recent year for which data are available. In this year’s index, Hong Kong retains the highest rating for economic freedom, 8.7 of 10, closely followed by Singapore at 8.5. New Zealand, Switzerland, and the United States tied for third with ratings of 8.2. The United Kingdom, Canada, and Ireland ranked 6th, 7th, and 8th, respectively. Australia, Estonia, Luxembourg, and the United Arab Emirates tied for 9th.
While sometimes it may not seem like it, the good guys are winning.
And this is good news for more than just ideological warriors, who like the philosophy of smaller government. It is good news for the day-to-day lives of the citizens of countries moving toward greater economic freedom.
I. Greater economic freedom coincides with greater per capita income (.pdf):
But what about equality? Aren't all men created equal? Doesn't terrible inequality take root in nations with a great deal of economic freedom?
VI. Less economic freedom does necessarily lead to the poorest earning a greater share of national income (.pdf):
The answer for poverty is not to destroy and constrain and shackle wealth. The solution is to grow the economy. With the growing economy, the poorest benefit accordingly.
VII. In countries with greater economic freedom, the poorest enjoy a far greater per capita income than in countries with less economic freedom (.pdf):
The poor in economically free countries have cars and televisions and cell phones; better yet, they have food and clothing and shelter. In economically unfree countries, the poor have just about nothing.
Professor Rudy Rummel, meanwhile, has some issues with the claim that economic freedom is a more effective deterrent to war than democracy:
...there are NO (zero) wars between democracies over almost two-centuries. How can economic freedom improve on that, not to mention being 50 times better?
The information on economic freedom is still valid, but Rummel does make an important point about the Cato Institute's libertarian-inspired isolationist leanings in world affairs. The Cato Institute holds quite a bit of skepticism-- even hostility-- toward the liberation of places like Iraq. Those leanings likely made the Cato authors get a little carried away with themselves, rhetorically.
But it's hard not to get carried away. Economic freedom is truly awesome.
Stay tuned later this week for more benefits of economic freedom.
Previous Trivia Tidbit: Senator Landrieu's 2008 Hopes.
Posted by Will Franklin · 13 September 2005 10:48 AM