Most Free Economy Worldwide: Hong Kong, Not U.S.
Once again, Hong Kong has won the top spot in the Heritage Foundation’s Index of Economic Freedom rankings. This will be the 17th consecutive year that Hong Kong has achieved the title of having the “most free” economy- not the United States.
The study, which covers economies in different regions across the world, is a joint project of the Wall Street Journal and the Heritage Foundation. This index ranks countries on a 1-100 scale on the basis of 10 categories that evaluate openness, the rule of law and competitiveness. These 10 scores are then averaged to produce the overall score.
Hong Kong, according to the press release, "led the world in four categories of economic freedom: business freedom (98.7), fiscal freedom (93.3), investment freedom (90) and property rights (90).
The United States, ranked 9th in the index, scored an average of 77.8 – our scores in business freedom (91), fiscal freedom (68.3), investment freedom (75), and property rights (85) being much lower comparatively.
The four freest economies are in the Asia-Pacific region. Singapore ranked second and Australia finished third. New Zealand finished fourth and had the world's best scores in two of the 10 index categories, namely business freedom (99.9 out of 100) and freedom from corruption (94).
This low ranking of the economic environment within the United States, the country with the world’s biggest economy, reflects deteriorating business freedom, trade freedom, government spending, and monetary freedom. We’re not even the highest-ranking country in North America anymore- Canada scored higher in place 6.
This score spotlights the fact that we are stifling our own businesses. The amount of government regulation, intervention, and taxation is taking its toll on how well businesses are able to function within the United States. This ranking of economies is more than just simply a number. Our 9th place rank highlights the grim fact that we are not the most appealing place in the eyes of future business operators- or the second or third or fourth . . .
The study, which covers economies in different regions across the world, is a joint project of the Wall Street Journal and the Heritage Foundation. This index ranks countries on a 1-100 scale on the basis of 10 categories that evaluate openness, the rule of law and competitiveness. These 10 scores are then averaged to produce the overall score.
Hong Kong, according to the press release, "led the world in four categories of economic freedom: business freedom (98.7), fiscal freedom (93.3), investment freedom (90) and property rights (90).
The United States, ranked 9th in the index, scored an average of 77.8 – our scores in business freedom (91), fiscal freedom (68.3), investment freedom (75), and property rights (85) being much lower comparatively.
The four freest economies are in the Asia-Pacific region. Singapore ranked second and Australia finished third. New Zealand finished fourth and had the world's best scores in two of the 10 index categories, namely business freedom (99.9 out of 100) and freedom from corruption (94).
This low ranking of the economic environment within the United States, the country with the world’s biggest economy, reflects deteriorating business freedom, trade freedom, government spending, and monetary freedom. We’re not even the highest-ranking country in North America anymore- Canada scored higher in place 6.
This score spotlights the fact that we are stifling our own businesses. The amount of government regulation, intervention, and taxation is taking its toll on how well businesses are able to function within the United States. This ranking of economies is more than just simply a number. Our 9th place rank highlights the grim fact that we are not the most appealing place in the eyes of future business operators- or the second or third or fourth . . .
Read more: http://americansforprosperity.org/110111-most-free-economy-worldwide-hong-kong-not-us#ixzz1dT3K3HtS
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