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Do you think we have a state of free enterprise in the US right now?
I think I answered this with the 'subsidies' post, but no, I do not feel that america still is a land of 'free enterprise'.
What is economic freedom?
Economic freedom is the fundamental right of every human to control his or her own labor and property. In an economically free society, individuals are free to work, produce, consume, and invest in any way they please, with that freedom both protected by the state and unconstrained by the state. In economically free societies, governments allow labor, capital and goods to move freely, and refrain from coercion or constraint of liberty beyond the extent necessary to protect and maintain liberty itself.
How do you measure economic freedom?
We measure ten components of economic freedom, assigning a grade in each using a scale from 0 to 100, where 100 represents the maximum freedom. The ten component scores are then averaged to give an overall economic freedom score for each country. The ten components of economic freedom are:
- Business Freedom
- Trade Freedom
- Fiscal Freedom
- Government Spending
- Monetary Freedom
The Top 10
Rank Country Overall Change
1 Hong Kong 89.7 0.0
2 Singapore 87.2 1.1
3 Australia 82.5 -0.1
4 New Zealand 82.3 0.2
5 Switzerland 81.9 0.8
6 Canada 80.8 0.4
7 Ireland 78.7 -2.6
8 Denmark 78.6 0.7
9 United States 77.8 -0.2
10 Bahrain 77.7 1.4
We are BEHIND a socialist country (Canada) and ~just~ barely above a middle eastern country(granted a very rich and 'free' country, as far as the middle east goes).
Kicking ass and taking names is Hong Kong, who has only EMBRACED the capitalistic ways a mere 13+ years ago.
It will be interesting to see the revolution in 2047 when they get 'assimilated' back into socialist China...