The ongoing decline of America’s economic freedom has been going on for more than a decade. And, the latest report which ranks nations on their relative levels of economic prosperity shows that for the first time, the US is not among the 10 most prosperous nations in the world. The English “Legatum Institute,” with which I was not previously familiar (but sounds a lot like a British version of the Rio Grande Foundation) has been ranking the nations of the world based on economic prosperity for the past six years. You can see their latest report here and watch a “Yahoo News” report on the report here.
Interesting tidbits from the report: America’s greatest declines in recent years come in the categories of “entrepreneurship,” “economy,” and “personal freedom.”
The report ranks the US 2nd on health (only behind Luxembourg), far better than Canada’s 15th position despite Canada’s overall better rank. American education also performed respectably on the report with a 5th overall ranking.
Fascinating report and more evidence that whoever we elect as the next president and congress of this country, they have got to make the restoration of economic freedom a top priority.