New Mexico jumps in “Economic Freedom” Index

We at the Rio Grande Foundation believe that economic freedom is the most comprehensive and important single measurement of a particular economy’s likelihood of generating wealth and prosperity. If that is the case, New Mexico has experienced some rare good news via the free market, Canada-based, Fraser Institute’s Index of Economic Freedom of North America which was just released with 2012 data.

New Mexico which had been buried in 50th place for two straight years has risen to a tie for 40th alongside South Carolina and Hawaii. The states which New Mexico beat out include Maine, Vermont, Mississippi, New York, Rhode Island, West Virgina, New Jersey, and California.

It is a bit of good news although there is no doubt that 40th place is not good enough. Certainly, more work is needed to turn New Mexico’s economy around.

Also of interest, the Fraser Institute included Mexican states in the rankings for the first time ever. The full report can be found here.