Economic Freedom = Prosperity for Everyone

[FenderBender]

http://www.freetheworld.com/2013/EFW2013-exec.sum.pdf

Economic freedom is ranked on size of government, protection of property rights, stable monetary policy, freedom of international trade, and least economic regulation.

• Nations in the top quartile of economic freedom had an average per-capita GDP of $36,446 in 2011, compared to $4,382 for nations in the bottom quartile in
2011US(PPP) dollars (Exhibit 1.6).


• In the top quartile, the average income of the poorest 10% was $10,556, compared
to $932 in the bottom quartile in 2011US(PPP) dollars (Exhibit 1.9). Interestingly,
the average income of the poorest 10% in the most economically free nations is
more than twice the overall average income in the least free nations.


• Life expectancy is 79.2 years in nations in the top quartile compared to 60.2 years
in those in the bottom quartile (Exhibit 1.10).


• Political and civil liberties are considerably higher in economically free nations than
in unfree nations (Exhibit 1.11).

US Ranks 17th. Who cares about other countries. We rule.

The full report can be found here.

 

[Nocturnal]

No big surprise there, moving from an economy with low freedom to high freedom will always reap rewards over the long run.

I would like to see the top 20 or so in economic freedom reviewed for their standard of living. IMO economic prosperity is just one component of quality of life. I can be rich as balls but if the area I live in is so shitty that I can't venture out without getting shot or there are no parks or cultural activities to enjoy that isn't a great life.

 

[FenderBender]

No big surprise there, moving from an economy with low freedom to high freedom will always reap rewards over the long run.

I would like to see the top 20 or so in economic freedom reviewed for their standard of living. IMO economic prosperity is just one component of quality of life. I can be rich as balls but if the area I live in is so shitty that I can't venture out without getting shot or there are no parks or cultural activities to enjoy that isn't a great life.

It's probably not a one-to-one relationship, but I imagine economic prosperity and quality of life to be pretty closely related, since money is just the means to get what you want. People aren't complaining about the mega-rich because they like the color of money. They see the mega-rich as the people living luxurious lives.

 

[Nocturnal]

It's probably not a one-to-one relationship, but I imagine economic prosperity and quality of life to be pretty closely related, since money is just the means to get what you want. People aren't complaining about the mega-rich because they like the color of money. They see the mega-rich as the people living luxurious lives.

There is a co relation, a strong one I'd say. My main issue is that many people focus on maximizing "money" in general and forget about the other areas that can be impacted. I.e. building that industrial plant may create more jobs, but if it pollutes the air the people in that nation are possibly worse off.