Prosperity linked to economic freedom


THE WORLD ECONOMY. GDP* per capita. The Heritage Foundation. Source: 2008 Index of Economic Freedom. Prosperity linked to economic freedom.

THE WORLD ECONOMY

Prosperity linked to economic freedom The freer a nation’s economy, the higher its standard of living. That’s the general rule, according to the 2008 Index of Economic Freedom. The 14th annual index, published by The Heritage Foundation and The Wall Street Journal, uses 10 categories to assess the degree of economic freedom in 157 nations. The U.S. rating slipped slightly, largely because of high taxes and increased government spending. In all, the economies of 30 countries scored 70 or higher (“mostly free” to “free”) out of a possible 100, while 24 scored below 50 (“repressed”). In the chart below, 17 nations are plotted. GDP* per capita

LESS FREE

MORE FREE Mostly Moderately Mostly Unfree Free Free

Repressed

Free

$45,000

United States: Index score: 80.6, GDP per capita: $41,890

Hong Ireland Kong

United Kingdom $30,000

Australia

Japan

Singapore New Zealand

Trend line for 157 nations $15,000

Malaysia

Lithuania Mexico

Vietnam China Syria Colombia Burma India 30

40

50

60

70

80

90

100

For details on the economic freedom of 157 nations, go to www.heritage.org/index. * Gross Domestic Product Source: 2008 Index of Economic Freedom

The Heritage Foundation

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