Legislators are a bit more than halfway through the 2012 legislative session. While they meet, they (and their constituents) need to keep in mind that policies now in place — enacted over the years in Santa Fe — have led to New Mexico being among the most impoverished states in the nation. This poverty has been driven by an abject lack of economic freedom.
According to the Fraser Institute’s (the are the Canadian national equivalent of the Rio Grande Foundation) 2011 report “Economic Freedom of North America,” New Mexico is the 49th-freest state in the nation (check page 2 of the report). Or, put another way, we’re less economically free than any state besides West Virginia.
What makes a state free? Small government, limited or no arbitrary takings and discriminatory taxation, and labor freedom, are the main factors.
States performing well on the economic freedom report include Delaware, Texas, Colorado, and Nevada. A quick video explaining the importance of economic freedom can be found below: