"The United States has seen more than a decade of decline, having been ranked 2nd on the index in 2000, 8th in 2005 and 17th in the current report. The average global economic freedom score rose slightly from 6.74 out of 10 in 2010 to 6.87 in 2011, the last year for which data is available. The authors of the report note that the United States has fallen in all areas that the report measures: size of government, the legal system and security of property rights, sound money, freedom to trade, and regulation. Increased spending, a weakening rule of law, worse monetary policy, greater trade barriers, and more regulation are to blame. As the graph below shows, economic freedom in the United States is lower than it was in 1980 and is below that of Canada, New Zealand and even Chile, a developing country on its way to first-world status."
Posted on: Wed, 25 Sep 2013 03:16:11 +0000
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