US Falls in Economic Rating; a decade of decline
I have traveled the State of Texas talking about economic freedom and using the Fraser Institute’s ranking to discuss how government policies impact every aspect of our lives. We have been rated #10 and Texans have been shocked to learn it.
The Fraser Institute’s International Freedom Ranking is out for 2012.
The US has fallen from 10th to 18th.
To put that into perspective, in 2000, the US was rated #3. And in 1980-2000 the US was ranked #1 in economic freedom.
Economic freedom ranking considers five categories and rates all countries in each category, then ranks the countries in terms of economic freedom.
Besides the devastating news that we are rated at #18 , it is clear the rest of the world is catching up and our policies are our policies are truly “redistributing our wealth” to other countries.
The 5 different categories that they track are:
- Size of government;
- Sound money practices;
- Legal system and property rights;
- Regulation; and
- Freedom to trade internationally.
The US has fallen in every category except soundness of money.
What is even more disturbing is the fact that this index looks at 2 years ago. It’s the world as it is in 2010. We will likely have slipped even further down in economic freedom when we see the 2014 report (with 2012 numbers).
The US is ranked behind Finland and Denmark. The US is Europe now and we see what is happening in Europe.
Stay tuned – we will be providing more insight on this revealing study and what it means to you.
The full report can be found here: http://www.freetheworld.com/2012/EFW2012-complete.pdf
The executive summary can be found here: http://www.freetheworld.com/2012/EFW2012-exsum.pdf