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As economists from Adam Smith and Milton Friedman to Paul Samuelson and Larry Summers have stressed, freedom of exchange and market coordination provide the fuel for economic progress.
In the 2016 Economic Freedom of the World report, global economic freedom increased slightly. Hong Kong retained the highest rating for economic freedom, followed by Singapore, New Zealand, Switzerland, Canada, Georgia, Ireland, Mauritius, the United Arab Emirates, Australia, and the United Kingdom.
The United States, long considered the standard bearer for economic freedom among large industrial nations, has fallen precipitously from second in 2000 to 8th in 2005 to 16th in this year’s report.
"Due to a weakening rule of law, increasing regulation, and the ramifications of wars on terrorism and drugs, the United States has seen its economic freedom score plummet in recent years," write the study's authors.
2016 Economic Freedom of the World
“Global Economic Freedom Slightly Up, the United States Still Low,” by Ian Vásquez
"U.S. Remains Stagnant in Latest Economic Freedom Rankings," from the Cato Institute Tumblr
PODCAST: Economic Freedom Marches On
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