U.S. Not Even In Top 15 World´s Freest Economies
Economic Policy: We sing of America as the land of the free, but it's no longer the home of a free economy. We now rank 17th in economic freedom — a shameful situation.
The U.S. should have the freest economy in the world and constantly be encouraging others to catch up.
But that's not the case. In 2013, the United Arab Emirates, Mauritius and Bahrain are judged to have freer economies. "The Economic Freedom of the World: 2013 Annual Report," a joint effort of the Cato and Fraser institutes, even judges Chile, Jordan and Estonia to have freer economies.
It hasn't always been this way. >>>
How can this be? Why the steep downward slide? The answer starts and ends with a government that can't say "no" to its urge to expand its role forever. >>>
Worse, the U.S. is a true regulatory state, ranking 121st in credit market regulation and 33rd in business regulations.
The trouble with less-free economies is their universal poor performance. The freer a country's economy, the more prosperous its people. The less free, the more miserable.
Venezuela, Myanmar, Republic of Congo, Zimbabwe and Chad are the bottom five (least-free) nations, and it's no accident that all are wretched places to live. >>>
"Unless policies undermining economic freedom are reversed," say the report's authors, James Gwartney, Robert Lawson and Josh Hall, "the future annual growth of the U.S. economy will be half its historic average of 3%."
Reversal is the key, but it won't happen with the status quo in Washington. We have a White House and its Democratic allies in Congress that want greater government control over the economy.
For them, it's the America of hope and change. For the rest of us, it's an unnecessary decline into a second-rate existence.
Looks like the Caesar Obammu's Banana Republic policies has dropped us 7, 8 or 10 places since the Regimes inception. Welcome to 0bamas Utopia folks, as the slide hastens.