- - - - 51 generate incomes that reveals a world economy history. According to the Index Index Index in 1995 and is the highest aver highest the is and 1995 in : Index Index countries that are more economically free. other countries and more than five times are more than double the average levels in higher than the incomes of people living in the 2020 in countries with “repressed” economies. Economies rated “free” or “mostly free” Per capita incomes are much higher in The 2020 heritage.org/Index

free.” Global average economic freedom has persed information-gathering processes and power price-setting of free markets incentiv past year. This represents a full four-point centralized political processes that are typi cally slow and often biased toward the status Theyquo. inspire the innovation in all realms overall improvement since of the the inception changeas has free-market capitalism built on and safer societies. advancedslightly point by0.8 to 61.6 over the age score in the principles of economic freedom. The dis thatis necessary for , enabling better that as a whole continues to be “moderately izeand guide change far more e fcientlythan FREEDOMADVANCED HAS jobs, better products, and healthier, cleaner, cleaner, jobs, better products, and healthier, 2020 GLOBAL ECONOMIC ECONOMIC GLOBAL • ------Index Index of The Heritage Foundation | Heritage Foundation The provides compelling protect and promote indi promote and protect Index

he Heritage Foundation’s annual he Heritage Foundation’s Economic Freedom

Economic freedom continues to provide the the provide to continues freedom Economic In an increasingly global environment prosper now and best confront whatever condi whatever confront best and now prosper progress and Nationsprosperity. with higher surest surest pathway to prosperity. When govern scores on the ereconomic system has proven as adaptive to expected change, the imperative to advance economic freedom and vibrant entrepre characterized by rapid and sometimes un ef cient resource allocation, value creation, exchange of goods and services in markets evidence that economic freedom is the key to generated and reinforced through the markets’ markets’ the through reinforced and generated and when they open themselves to productivi environment an ensure they world, the around and provide fair and evenhanded access to jus and innovation. tions might imperil their progress and security security and progress their imperil might tions ty-enhancing resources and competition from competition and resources ty-enhancing tice; when they limit their own use of society’s use of society’s tice; when they limit their own that are characterized by open domestic and neurial growth is stronger No than oth ever. in the future. in which individuals and companies can best resources and impose regulations only with a ments respect the property rights of individuals individuals of rights property the respect ments international competition. Economically free is that growth dynamic the from benefit nations ciency, health, and safety; safety; and health, fciency, e economic to view vidual liberty and empowerment and the free

ECONOMIC FREEDOM: ECONOMIC GAINING GROUND GAINING

T AROUND THE WORLD THE AROUND 52 $20,000 $40,000 $60,000 http://www.heritage.org/index. James M.Roberts, pubs/ft/weo/2019/01/weodata/weoselgr.aspx (accessed December 12,2019), andTerry Miller, Anthony B. Kim,and SOURCES: NOTE: ECONOMIC FREEDOMANDSTANDARDOFLIVING Average GDPperCapita(PPP) GDP perCapita(PPP) $100,000 $120,000 $140,000 $20,000 $40,000 $60,000 $80,000 $0 $0 Represented are the180nations that are inbothdatasets. 0 International Monetary Fund, World Economic OutlookDatabase, April2019, http://www.imf.org/external/ Economic Freedom represents anation Correlation: 0.63 Correlation: $66,751 in the Free Each circle 10 2020 Index of Economic Freedom Index of Overall Scoreinthe 20 Category inthe $48,535 Mostly Free 30 2020 Index of Economic Freedom 40 2020 IndexofEconomicFreedom (Washington: The HeritageFoundation, 2020), 2020 IndexofEconomicFreedom Moderately $22,446 Free 50 60 $7,286 Unfree Mostly 70 Chart 1 80 Repressed A $7,615 heri 90 Trend ta ge.org 100 ------53 100 ge.org ta 2020 Index Index 2020 heri 90 A Chart 2 80 results demonstrate that sustain that demonstrate results 70 , https://li.com/reports/2018-legatum- , https://li.com/reports/2018-legatum- Index The Today’s successful economies are not nec heritage.org/Index essarily essarily geographically large or richly blessed and integration into global markets. In general, In markets. global into integration and the overarching objective of economic policies policies economic of objective overarching the govern when development of stages all at tries must must be to create an environment that pro into prosperity. coun for achievable is dynamism economic ing ments adopt economic policies that empower managed to expand opportunities for their cit izens by enhancing their economic dynamism ECONOMIC FREEDOM: ECONOMIC vides the best chance to translate opportunity with natural Many economies resources. have OPPORTUNITYPROSPERITY AND THE VITAL LINK BETWEEN LINK VITAL THE 60 - - - - 2020 Index of Economic Freedom - 50 Legatum Prosperity Index 2018 Index Prosperity Legatum 2018 Business Environment Pillar Score Environment 2018 Business The Heritage Foundation | Heritage Foundation The 40

Overall Score in the Trend http://www.heritage.org/index. 2020), Heritage Foundation, The (Washington: 30 Index of Each circle in the Legatum Institute Foundation, Foundation, Institute Legatum Correlation: 0.87 represents a nation Economic Freedom Represented are the 146 nations that are in both datasets. are that the 146 nations are Represented 20 freedom through policies that reduce taxes, freedom through policies that reduce taxes, such factors as health, education, the en such factors as health, education, the open the economy to greater competition, to greater competition, open the economy and fight . able boost in their economic growth by by in their economic growth able boost and democratic governance. rationalize the regulatory environment, rationalize the regulatory environment, ment may be, countries can get a measur ment may to increase economic implementing steps improving economic freedom and achiev improving No ing higher per capita economic growth. of develop level what their existing matter related with overall well-being, including related with overall vironment, innovation, societal progress, progress, societal vironment, innovation, Economic freedom is also strongly cor Economic freedom is also strongly There is a robust relationship between relationship between There is a robust 20 30 40 50 60 70 80 of Economic Freedom Economic of NOTE: SOURCES: and James M. Roberts, Kim, B. Anthony Miller, and Terry 12, 2019), December (accessed prosperity-index/ Legatum Prosperity Index’s Legatum ECONOMIC FREEDOM AND ENTREPRENEURIAL DYNAMISM AND ENTREPRENEURIAL FREEDOM ECONOMIC

• • 54 1, countries moving up the economic freedom economic the up moving countries 1, years’ policy missteps in responding to the the to responding in missteps policy years’ verge of breakdown or blunt dismissal. The The dismissal. blunt or breakdown of verge ing entrepreneurial environments, and lower and environments, entrepreneurial ing deteriorat growth, subpar in result that icies en choices, more with firms and individuals ket system of economic freedom is not at the the at not is freedom economic of system ket heavy-handedmisguidedpol governmentand tionship between economic freedom and lev and freedom economic between tionship global economic slowdown and the ongoing ongoing the and slowdown economic global couraging greaterentrepreneurship. els of per capita income. As indicated in Chart in indicated As income. capita per of els greater for demand The growth.employment byoften too inflicted is that damage economic of number growing a that is instead evidence people around the world have understood the understood have world the around people free-mar the capitalism, on assault political freedom stems from the strong positive rela positive strong the from stems freedom freedom isthusstrongerthan ever. 60 62 56 58 Freedom (accessed December 12,2019); andTerry Miller, Anthony B. Kim,and JamesM.Roberts, Using 2011 PPPand$1.9/day Line,” http://iresearch.worldbank.org/povcalnet/povDuplicateWB.aspx source=world-development-indicators# (accessed December 12,2019); The World “Regional Bank, Aggregation SOURCES: NOTES: AND POVERTYFALLS AS ECONOMICFREEDOMRISES,THEGLOBALECONOMYEXPANDS Freedom Index ofEconomic Average Scoreinthe The most fundamental benefit of economic It is noteworthy that despite the recent recent the despite that noteworthy is It 57.6 1995 2000 Some poverty figures have beeninterpolated. (Washington: The HeritageFoundation, 2020), http://www.heritage.org/index. The World World Bank, Development Indicators, http://databank.worldbank.org/data/reports.aspx? 2010 61.6 2020 2020 Index of Economic Freedom of 2010U.S.Dollars Global GDP,inTrillions $100 $20 $40 $60 $80 $0 1992 $39.2 2000 ------(60 or above), the relationship between eco between relationship the above), or (60 Prosperity IndexProsperity flect even moderate levels of economic freedom nomic freedom and per capita gross domestic gross capita per and freedom nomic income. For countries achieving scores that re infrastructure, access to credit, investor pro investor credit, to access infrastructure, 2018 the of pillar Environment ness market the in opportunities new to respond entrepreneurial to openness the to related this positive relationship, governments should flexibility.”market labour and tections activity that allows individuals to innovate, to innovate, to individuals allows that activity entrepreneurial environment, its business business its environment, entrepreneurial entre and freedom economic between dence correspon close the shows 2 Chart efforts. scale show increasingly high levels of average average of levels high increasingly show scale product (GDP)ishighlysignificant. preneurial opportunity measured by the Busi the by measured opportunity preneurial enjoyownto their and on place, based success be cautious in undertaking stimulus programs 2010 In addition, economic freedom is closely closely is freedom economic addition, In $82.6 2018 , which “measures a country’sa “measures which , Abject Poverty Population Livingin Percentage ofGlobal 10% 20% 30% 40% 0% 1993 2020 Index of Economic 34% Chart 3 2000 A heri 2010 ta 10.0% Legatum Legatum ge.org 1 Given 2015 ------55 In ge.org ta 2020 2020 25–year 25–year heri A Countries Gaining Economic Freedom Countries Losing Economic Freedom Chart 4 2.8 2.7 2.2 , as well as in volumes of academic research, research, academic of volumes in as well as , The key driver of poverty reduction is dy As Chart 4 demonstrates, there re is a robust As Chart 4 demonstrates, heritage.org/Index for the greatest number of people. for the greatest freedom has made the world a profoundly better better profoundly a world the made has freedom before. than ever fulfilling lives place. More people are living longer and more are living people More place. strategy for dynamic economic expansion and expansion economic dynamic for strategy dom–enhancing policies that empower individ empower that policies dom–enhancing erty, and the global poverty rate has declined by by declined has rate poverty global the and erty, economic the world, around people more ever greater economic freedom, the world economy economy world the freedom, economic greater ties. Advancingties. economic freedom is a proven two-thirds. Opening the gates of prosperity to the of gates Opening prosperity two-thirds. uals with greater choice and more opportuni dex has more than doubled in size. This progress has has progress This size. in doubled than more has is likely to be the surest path to true progress illustrates, over the past two-and-a-half decades decades two-and-a-half past the over illustrates, toward moved has economy global the which in docu As growth. economic resilient and namic the of editions previous in and here mented lifted hundreds of millions of people out of pov of out people of millions of hundreds lifted lationship between improving economic freedom freedom economic improving between lationship vibrant and lasting economic growth is likely when governments implement economic free 1.9 scores and data on GDP growth are available over the same over available are on GDP growth and data scores - - - Terry Miller, Anthony B. Kim, and James M. Roberts, and James M. Roberts, Kim, B. Anthony Miller, Terry 1.7 Index Index 1.2

(Purchasing Power Parity) (Purchasing . The Heritage Foundation | Heritage Foundation The (Washington: The Heritage Foundation, 2020), http://www.heritage.org/index. 2020), Heritage Foundation, The (Washington: Average Annual Growth of GDP per Capita Annual Growth of Average The World Bank, “GDP per Capita Growth (Annual %),” https://data.worldbank.org/indicator/ https://data.worldbank.org/indicator/ %),” (Annual per Capita Growth Bank, “GDP World The Figures are country averages in which both in which averages country are Figures Years Years Years Past 5 Past 15 Past 25 Unquestionably, the free-market system that that system free-market the Unquestionably, By a great many measures, over the past INCREASING ECONOMIC FREEDOM AND ECONOMIC GROWTH AND ECONOMIC FREEDOM ECONOMIC INCREASING SOURCES: and 12, 2019), December (accessed NY.GDP.PCAP.KD.ZG Freedom Economic of Index NOTES: and include 148 countries, rates growth 15–year countries, include 169 rates growth time period. Five-year countries include 132 rates growth some version of free-market capitalism, with economic growth around the world. As Chart 3 Chart As world. the around growth economic open competition has fueled unprecedented capital, have broken the vicious cycle of poverty poverty of cycle vicious the broken have capital, decades, those countries that have adopted economies supported by efcient regulations and open to the free flow of goods, services, and and services, goods, of flow free the to open and and dependence. achieved instead through policy reforms that to increase competition, ensureand stability, tions, tions, reductions in tarifs and other barriers to trade or and investment, financial reforms that increase their own spending or increase is rooted in empowerment of the individual and and individual the of empowerment in rooted is improve and broaden access to credit. improve in the efciency of business and labor regula improve improve the incentives that drive entrepre Theseneurial includeactivity. improvements nomic freedom. The best results are likely to be be to likely are results best The freedom. nomic layers layers of regulation, both of which reduce eco ECONOMIC FREEDOM: ECONOMIC THE CURE TO POVERTY Whether long-term (25 years), medium-term (15 56 Development Programme’s 2019 years), or short-term (five years), the relation the years), (five short-term or years), vital determinant of rates of economic expansion intensity of deprivation at the individual level in itive. Improvements in economic freedom are a most is significantly higher than that of coun of that than higher significantly is most coun of rate growth economic capita per nual al PovertyIndex al tyintensity, as measured by the that therecordshows willreducepoverty. tries where freedom has stagnated or declined. freedom economic increased have that tries and achieving higher per capita economic growth. all the time periods considered, the average an growth rates of per capita GDP over time. Over changes in economic growth is consistently pos er economic freedom tend to achieve higher achieve to tend freedom economic er ship between changes in economic freedom and ect on the impact of poverty.of Poverimpact the on efect positive intense poverty) indicate more (higher scores Poverty Index Multidimensional POVERTY INTENSITY 2020), http://www.heritage.org/index. Freedom and JamesM.Roberts, December 12,2019), andTerry Miller, Anthony B. Kim, http://hdr.undp.org/en/2019-MPI (accessed 2019 GlobalMultidimensionalPoverty Index SOURCES: Undeniably, countries moving toward great Greater economic freedom also has a major major a has also freedom economic Greater Mostly Freeand Moderately (Washington: The HeritageFoundation,

United Nations Development Programme, 0.07 Free , which, assesses the nature and

2020 Index of Economic Chart 5 and Repressed Mostly Unfree 0.20 A Multidimension heri 2020 Index of Economic Freedom , ta ge.org ------The positive link between economic freedomeconomicbetween linkpositive The Many governments around the world are push with higher levels of economic freedom. As de As freedom. economic of levels higher with DEMOCRATIC PROGRESS DEVELOPMENT AND FOUNDATION FOR GREATER ECONOMIC THE FREEDOM: ly about achieving greater overall prosperity overall greater achieving about ly liver environmental success. (SeeChart7.) ing, ing programs to tax carbon emissions, increase more intrusive and economically distortionary. 6 Chart poverty. As in reductions or incomes ketplaces for the buying and selling of carbon carbon of selling and buying the for ketplaces uates life expectancy, literacy, education, and and expectancy, literacy, education, life uates the level in countries that are rated “less free.”the level incountriesthatarerated“less trieswhoseeconomies consideredare “mostly taxes on gasoline, and set up nontransparent nontransparent up set and gasoline, on taxes been have environment the concerning tions tions monetary and materialistic beyond goes that to be the key to economic success can also de also can success economic to key the be to and economically harmful exchanges and mar and the most remarkable improvements in clean andhigher levels of innovation ensures greater Fortunately,growth. economic retard and the education, health outcomes, and standard of liv of standard outcomes,and health education, gy. Such policies impose a costhuge on society emissions and are using government revenue to Na United the by measured as development of economic freedom extend far beyond higher dimensions of well-being. The societal benefits energyuseand energy ef ciencyover thepast capacity to cope with environmental challenges, picted in Chart 5, the intensity of poverty in coun standards oflivingincountriesworldwide. shows, countries with higher levels of economic same free-market principles that have provenhave that principles free-marketsame subsidize various types of so-called clean ener pacity for environmentally friendly innovation. free” or “moderately free” is only about one-third freedom enjoy higher levels of overall human overall of levels higher enjoy freedom freedom has been shown to increase the ca the increase to shown been has freedom In countries around the world, economic economic world, the around countries In In recent years, government policies and ac Growing economic freedom is unequivocalis Growingfreedom economic 2 isalso much lower onaverage incountries Development Human , which eval which , 3 ------

57 1.0 ge.org ge.org

ta ta 50.2 heri heri A A 0.8 Repressed Chart 7 Chart 6 0.6 47.2 Mostly Unfree Score 2020 Index of Economic Freedom Economic of Index 2020 0.4 (New Haven, CT: Yale University, 2018), 2018), University, Yale CT: Haven, (New and Terry Miller, Anthony B. Kim, and James M. B. Anthony Miller, and Terry heritage.org/Index 59.9 Free Moderately 0.2 2020 Index of Economic Freedom Score (Washington: The Heritage Foundation, 2020), 2020), Heritage Foundation, The (Washington: Human Development Index Index Human Development 0.0 69.5 Free Mostly The Heritage Foundation | Heritage Foundation The 0.595 0.603 0.934 0.869 0.762 Average Category in the 2018 Environmental Performance Index Performance Environmental 2018 76.1 Free Yale University, University, Yale U.N. Human Development Programme, “Human Development Indices and Indicators, 2018 Statistical Statistical 2018 and Indicators, Indices “Human Development Programme, Human Development U.N.

2020 Index of Economic Freedom Economic of Index 2020 Represented are the 176 nations that are in both datasets. are that nations the 176 are Represented 0 Repressed Moderately Free Mostly Unfree Free Mostly Free 10 30 20 50 40 70 60 80 Environmental Perfomance Index Category in the Category of 2020 Index Freedom Economic ECONOMIC FREEDOM AND HUMAN DEVELOPMENT AND HUMAN FREEDOM ECONOMIC (Washington: The Heritage Foundation, 2020), http://www.heritage.org/index. 2020), Heritage Foundation, The (Washington: NOTE: SOURCES: (accessed http://hdr.undp.org/sites/default/files/2018_human_development_statistical_update.pdf Update,” Kim, and James M. Roberts, B. Anthony Miller, Terry and 12, 2019), December ECONOMIC FREEDOM AND ENVIRONMENTAL PERFORMANCE ECONOMIC FREEDOM AND Roberts, Roberts, http://www.heritage.org/index. SOURCES: 12, 2019), December (accessed https://epi.envirocenter.yale.edu/ 58 vide more fertile ground for effective and and effective for ground fertile more vide ignored ignored and certainly underappreciated by advo regulatorypower of the marketplace, generally advanc of because rather but regulation, ment a virtuous cycle of investment,(in innovationof cycle virtuous a economic growth. (SeeChart8.) cludingingreener technologies), and dynamic cleanliness and sustainability. The end result is re and production of means everefcient more cates of big government, pushes firms to identify The trade. freer and freedom economic in es governof result havenota decades occurredas spond to consumer demands for environmental Economic Freedom gii-2019-report (accessed December 12,2019), andTerry Miller, Anthony B. Kim,andJamesM.Roberts, SOURCES: NOTE: ECONOMIC FREEDOMANDGLOBALINNOVATION Global InnovationIndex 10 20 30 40 50 60 70 Greater economic freedom can also pro also can freedom economic Greater 40 Represented are the128nations that are inbothdatasets. The GlobalInnovation Index, (Washington: The HeritageFoundation, 2020), http://www.heritage.org/index. 50 Overall Scoreinthe Score 2020 Index of Economic Freedom 2019 GlobalInnovation Index 60 2020 IndexofEconomicFreedom ------70 (See Chart 9.) By empowering people to exer9.)to Chart people empowering(See By well-functioning democratic system is a messy litical power, thereby encouraging the creation po for compete or interests entrenched lenge ic freedom ultimately nurtures political reform relationship that exists between economic free and often excruciating process, but the positive a through freedom political of achievement of morepluralistic societies. chal to use can they that resources economic cise greater control of their daily lives, econom dom and democratic governance is undeniable. the Undoubtedly, governance. democratic by making it possible for individuals to gain the , https://www.globalinnovationindex.org/ 80 Economic Freedom represents anation Chart 8 Correlation: 0.76 Correlation: in the Each circle 90 Trend Index of A 2020 Index of heri ta ge.org 100 ------59 100 ge.org

ta Trend 90 heri A 80 Chart 9 2020 Index of Economic Economic of Index 2020 70 60 , https://www.eiu.com/topic/democracy-index , https://www.eiu.com/topic/democracy-index Alternatives to free-market capitalism, such such capitalism, free-market to Alternatives heritage.org/Index debate over how societies should be structured structured be should societies how over debate economically to achieve the most optimal out large has debate this decades, recent In comes. the on primarily based however, persist, cisms any any population, and where diferences in indi a profound efect on their end results. both proven have Communism, or socialism as slow to tend they that in counterproductive and unequal unequal to the task of eliminating inequality er within within er f di which ability, and ort f e individual inequality of outcomes in a system that rewards rewards that system a in outcomes of inequality ly been won by free-market capitalism. Criti viduals’ starting positions can sometimes have have sometimes can positions starting viduals’ 50 - 2020 Index of Economic Freedom 40 2018 Index Democracy 30 The Heritage Foundation | Heritage Foundation The Score 20 Overall Score in the Index of 10 Each circle in the The Economist Intelligence Unit, Intelligence Economist The Correlation: 0.64 (Washington: The Heritage Foundation, 2020), http://www.heritage.org/index. 2020), Heritage Foundation, The (Washington: represents a nation Economic Freedom Represented are the 162 nations that are in both datasets. are that nations the 162 are Represented 0 2 4 6 8 Pursuit of greater economic freedom is thus thus is freedom economic greater of Pursuit The massive improvements in global indi –2 –0 10 12 Democracy Index 2018 Democracy ECONOMIC FREEDOM AND DEMOCRATIC GOVERNANCE AND DEMOCRATIC FREEDOM ECONOMIC Freedom NOTE: SOURCES: Kim, and James M. Roberts, B. Anthony Miller, and Terry 12, 2019), December (accessed cators of income and in recent decision-making throughout an economy. empowers the poor and builds the middle class. class. middle the builds and poor the empowers an important stepping-stone Itto democracy. initiative and disperses economic power and ECONOMIC FREEDOM: ECONOMIC ENSURINGUPWARD GREATER AND MOBILITY SOCIAL PROGRESS years largely reflect a paradigm shift in the It is a philosophy that encourages individual Freedom 60 vention to redistribute resources within soci within resources redistribute to vention ic system. At the heart of ensuring upward upward ensuring of heart the At system. ic econom its society’sthan a values about more relative impactofsuchinterventions. inter government of types various with ism and regulatory activities can shed light on the the on light shed can activities regulatory and economic mobility is the task of advancing of task the is mobility economic the that hope our is It ety. capital free-market of version some for opted or pollution. Most advanced societies have thus es that society has available to address poverty economic growth andthusreducetheresourc 99 99 99 99 99 99 99 99 99 (Washington: The HeritageFoundation, 2020), http://www.heritage.org/index. December 12,2019), andTerry Miller, Anthony B. Kim,andJamesM.Roberts, SOURCE: NOTE: ECONOMIC FREEDOMANDSOCIALPROGRESS Social ProgressIndex Ultimately, discussions of inequality are are inequality of discussions Ultimately, 0 Represented are the148nations that are inbothdatasets. ’sspending, tax, governments’ on data The SocialProgress Imperative, Economic Freedom represents anation Correlation: 0.72 Correlation: in the Each circle 10 Index of

Overall Scoreinthe Trend 20 Score Index of Economic Economic of Index 30 2020 Index of Economic Freedom 2019 Social Progress Index 40 2020 IndexofEconomicFreedom - - - - - 50 vide an environment that is conducive to so to conducive is that environment an vide rather thantheselectfew. in which social progress is strongest. Advancing soci that strong is evidence The people. nary cial progress also largely embrace economic economic embrace largely also progress cial in putting about really is freedom economic ones the are freedom economic on etiesbased inclu and dynamic that so freedom economic sive growth can occur meaningfully for ordi for meaningfully occur can growth sive petitiveness and open their societies to new new to societies their open and petitiveness place growth-inducing pro-market policies that freedom. benefit the greatest possible number of people As shown in Chart 10, countries that pro that countries 10, Chart in shown As , https://www.socialprogress.org/index (accessed 60 4 Countries that improve their com 2020 Index of Economic Freedom 70 Chart 10 80 A heri 90 ta

ge.org 100 ------61 , http://hdr. , “Overview,” , “Overview,” highlight that that highlight Global Multidimensional Poverty Global Multidimensional Poverty 2019 Social Progress Index Progress Social 2019 of Economic Freedom Economic of

Index People in countries that have advanced eco advanced have that countries in People A recurring theme of human history has heritage.org/Index by building on what works, countries can ac been resilience and revival. The results of the freedom remains curtailed lag in every indica ple around the world whose lives have measur have lives whose world the around ple stifling government policies that so often are celerate their progress against even the most difcult challenges and chart ever greater eco of countries and their citizens—billions of peo of citizens—billions their and countries of greater freedom to liberate themselves from ably improved and who continue to strive for the shackles of poverty and the socialism and tor of human well-being. nomic success. implicated in its perseverance. rewards. enormous reaped have freedom nomic By contrast, those who live in countries those where who live contrast, By 2020 ------, p. 8, https://li.com/wp-content/uploads/2018/11/2018_Prosperity_Index. , p. shows shows Human Development Indices and Indicators: 2018 Statistical Update Statistical 2018 and Indicators: Indices Human Development , http://hdr.undp.org/sites/default/files/mpi_2019_publication.pdf (accessed December 13, 2019). December (accessed , http://hdr.undp.org/sites/default/files/mpi_2019_publication.pdf The Heritage Foundation | Heritage Foundation The defines social progress as “the capacity of a society to meet the basic human needs of its citizens, its citizens, the basic human needs of meet to of a society capacity as “the defines social progress . Behind this record are sto The Legatum Prosperity IndexTM 2018 IndexTM Prosperity Legatum The Index of Economic Freedom Economic of Index Index Social Progress Index Progress Social https://www.socialprogress.org/index/global (accessed December 13, 2019). December (accessed https://www.socialprogress.org/index/global the conditions for all individuals to reach their full potential.” Social Progress Imperative, Imperative, Social Progress their full potential.” reach all individuals to for the conditions undp.org/sites/default/files/2018_human_development_statistical_update.pdf (accessed December 13, 2019). December (accessed undp.org/sites/default/files/2018_human_development_statistical_update.pdf pdf (accessed December 13, 2019). December pdf (accessed establish the building blocks that allow citizens and communities to enhance and sustain the quality of their lives, and create and create of their lives, quality the and sustain enhance to and communities citizens allow that the building blocks establish Index 2019: Measuring Inequalities 2019: Index The The United Nations Development Programme and Oxford Poverty and Human Development Initiative, Initiative, and Human Development Poverty and Oxford Programme Development Nations United Legatum Institute, Institute, Legatum United Nations Human Development Programme, Programme, Human Development Nations United The 2020 2020 The

barriers to entry, freedom barriers to to engageentry, with the economic freedom on the rise in an intercon ed) government intervention. ed) government cial outcomes. Instead, based on the evidence, achieved the high levels of social progress that that progress social of levels high the achieved tory of the their citizens demand. It is not massive redis on dictates government or wealth of tributions ries of human progress and the achievements nected yet challenging global environment, reaching the highest point in the 26-year his mobility and progress seem to require lower income level that produce the most positive so positive most the produce that level income ideas, products, and products, ideas, innovations have largely ENDNOTES ECONOMIC FREEDOM MATTERS FREEDOM MATTERS ECONOMIC world, and less (or at least much target better 2. 3. 1. 4. TODAY MORETODAY THAN EVER 62 1 Ranking Regional 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 48 47 46 45 44 43 42 41 40 39 38 37 36 35 34 33 ● ● ● ● ● ● Economic FreedomScores Not Graded Repressed 0–49.9 MostlyUnfree 50–59.9 ModeratelyFree 60–69.9 MostlyFree 70–79.9 Free 80–100 United Saint Lucia Vincent & Grenadines & Vincent . St Costa Bahamas Dominican Dominica Trinidad & Tobago & Trinidad Belize Venezuela ECONOMIC FREEDOM:REGIONALVARIATIONS The Americas (60.0) Hong Kong Taiwan Taiwan Macau Brunei Darussalam Kyrgyz Republic Kyrgyz Samoa Vanuatu Tonga Papua New New Papua Kiribati Timor-Leste Micronesia Solomon Islands Burma (REGIONAL AVERAGE) Asia-Pacific 2020 Index of Economic Freedom (61.1) Ireland United Czech North Kosovo Liechtenstein Herzegovina & Bosnia Europe (69.8) Arab United Syria Libya Yemen Middle East/ North Africa (61.8) Seychelles Cabo Verde Ivoire ' d Côte Guinea Gambia São Tomé & Príncipe Comoros Congo . Rep Leone Sierra Guinea Equatorial Congo . Rep . Dem Republic African Central Guinea-Bissau Sub-Saharan (55.1) Africa