This is the ninth edition of the annual report, Economic Freedom of North America. The results of this year's study confirm those published in the previous eight editions: economic freedom is a powerful driver of growth and prosperity. Those provinces and states that have low levels of economic freedom continue to leave their citizens poorer than they need or should be.
This study ranks the American states according to how their public policies affect individual freedoms in the economic, social, and personal spheres. Updating, expanding, and improving upon the three previous editions of Freedom in the 50 States, the 2016 edition examines state and local government intervention across a wide range of policy categories -- from tax burdens to court systems, from eminent domain laws to occupational licensing, and from homeschooling regulation to drug policy. Freedom in the 50 States remains the only index that measures both economic and personal freedoms.
What are the keys to good economic policy? George P. Shultz and John B. Taylor draw from their several decades of experience at the forefront of national economic policy making to show how market fundamentals beat politically popular government interventions—be they from Democrats or Republicans—as a recipe for success. Choose Economic Freedom reconstructs debates from the 1960s and 1970s about the use of wage and price controls as tools of policy, showing how brilliant economists can hold diametrically opposed views about the wisdom of using government intervention to spur the economy. Speeches and documents from the era include a recently unearthed memo from Arthur Burns, Federal Reserve chair, in 1971, in which he argues in favor of controls. Under Burns's guidance and in the face of stubborn inflation, Nixon introduced wage and price guidelines and freezes. But over the long run, these became a drag on the economy and ultimately failed. It wasn't until the Reagan administration that these controls were reversed, resulting in a vibrant economy. The words of iconic economist Milton Friedman—whose "free to choose" ethos inspired the free-market revolution of the Reagan era—along with lessons Shultz and Taylor learned from the front lines, demonstrate that tried-and-true economic policy works.
The American economy has provided a level of well-being that has consistently ranked at or near the top of the international ladder. A key source of this success has been widespread participation in political and economic processes. In The Government and the American Economy, leading economic historians chronicle the significance of America’s open-access society and the roles played by government in its unrivaled success story. America’s democratic experiment, the authors show, allowed individuals and interest groups to shape the structure and policies of government, which, in turn, have fostered economic success and innovation by emphasizing private property rights, the rule of law, and protections of individual freedom. In response to new demands for infrastructure, America’s federal structure hastened development by promoting the primacy of states, cities, and national governments. More recently, the economic reach of American government expanded dramatically as the populace accepted stronger limits on its economic freedoms in exchange for the increased security provided by regulation, an expanded welfare state, and a stronger national defense.
Derives an indicator for economic freedom based on personal choice, protection of private property, and freedom of exchange. Considers levels and trends in economic freedom, and their correlation with economic growth in 103 countries.
Volume 14 addresses the central issue of entrepreneurial action: while many factors are important to the phenomenon of entrepreneurship, entrepreneurship does not happen until someone takes action!
The Human Freedom Index presents the state of human freedom in the world based on a broad measure that encompasses personal, civil, and economic freedom. Human freedom is a social concept that recognizes the dignity of individuals and is defined here as negative liberty or the absence of coercive constraint. Because freedom is inherently valuable and plays a role in human progress, it is worth measuring carefully. The Human Freedom Index is a resource that can help to more objectively observe relationships between freedom and other social and economic phenomena, as well as the ways in which the various dimensions of freedom interact with one another.The report is co?published by the Cato Institute and the Fraser Institute.
No two nations in the world are as integrated, economically and socially, as are the United States and Canada. We share geography, values and the largest unprotected border in the world. Regardless of this close friendship, our two countries are on a slow-motion collision course—with each other and with the rest of the world. While we wrestle with internal political gridlock and fiscal challenges and clash over border problems, the economies of the larger world change and flourish. Emerging economies sailed through the meltdown of 2008. The International Monetary Fund forecasts that by 2018, China's economy will be bigger than that of the United States; when combined with India, Japan and the four Asian Tigers—South Korea, Taiwan, Singapore and Hong Kong--China's economy will be bigger than that of the G8 (minus Japan). Rather than continuing on this road to mutual decline, our two nations should chart a new course. Bestselling author Diane Francis proposes a simple and obvious solution: What if the United States and Canada merged into one country? The most audacious initiative since the Louisiana Purchase would solve the biggest problems each country expects to face: the U.S.'s national security threats and declining living standards; and Canada's difficulty controlling and developing its huge land mass stemming from a lack of capital, workers, technology and military might. Merger of the Century builds both a strong political argument and a compelling business case, treating our two countries not only as sovereign entities but as merging companies. We stand on the cusp of a new world order. Together, by marshalling resources and combining efforts, Canada and America have a greater chance of succeeding. As separate nations, the future is in much greater doubt indeed.
