What is Economic Freedom
Economic freedom is the right to be free to
work, to keep what you earn; to acquire and
trade property, to be protected by law from
fraud and violence, to be free from the
arbitrary exercise of power and regulations by
bureaucrats, to be tree from theft of your
property through inflation taxes and to be free
to trade goods, financial instruments and
money with foreigners. Every human being is
borne economically free...their freedom is
removed by the actions of governments.
Therefore we measure the existence of
Economic Freedom by noting where it has
been removed. »
Economic Freedomflof the Worfi
Project
- Objective: find a way to measure economic
freedom and explore the connection
between it and other variables
- 20 year project
~ Led by the late Milton Friedman, Rose
Friedman and Michael Walker
- involved 60 of the world's top scholars