'Economic freedom is valuable as an end in itself and is a vital component of human dignity, autonomy, and personal empowerment,' Anthony B. Kim writes.
lost their top-tier economic freedom status, with the latter no longer among the world’s 10 freest economies. New Zealand, recording its second-worst economic freedom score in the 29-year history of the index, has fallen into a “mostly free” economy. , whose score plummeted to 70.6, its lowest level ever in the history of the index. The U.S. now has the world’s 25-freest economy.
As documented once again in the 2023 index, economic freedom correlates significantly with overall well-being, which includes such factors as health, education, the environment, innovation, societal progress, and democratic governance. On these critical public policy implications, it should be remembered that economic freedom—not the environmental, social, and governance agenda—makes America and the world cleaner, safer, and better governed.
From a broader policy perspective, as previous editions of the index have explained, economic freedom is not a dogmatic ideology. Economic freedom is valuable as an end in itself and is a vital component of human dignity, autonomy, and personal empowerment. Just as important, however, is the fact that economic freedom provides a proven formula for economic progress and success.
The findings and reminders that the 2023 Index of Economic Freedom present are the foundation for that discussion.and is reprinted with kind permission from the Heritage Foundation
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