The secret to a prosperous economy actually isn’t a secret at
Around the world, we can see that countries with laws,
regulations and cultures that respect the principles of property
rights, a fair judicial system, low and predictable taxes and
regulations, among a few, prosper. Countries that fail to be
governed by these principles are less prosperous.
The Index of Economic Freedom, developed by our friends at The
Heritage Foundation, provides a single number to understand to
extent to which any country is positions its people for success
through sound policy. The higher a country’s score and ranking in
the Index, the more, over time, its people will prosper.
Not surprisingly, the economic basketcases of the world can be
found at the low end of the index, with scores under 50. North
Korea, Cuba and Venezuela round out the bottom three.
For policymakers in the United States and abroad, creating the
conditions for prosperity is, literally, a matter of raising one’s
score and ranking in the Index of Economic Freedom. Reduce taxes
and make regulations lower and more predictable? The score goes up.
Try to placate the country’s labor unions by… Read More