Wikipedia: "Creators [of this Ranking] took similar approach to Adam Smith's in The Wealth of Nations, that "basic institutions that protect the liberty of individuals to pursue their own economic interests result in greater prosperity for the larger society""
National Review: For the first time in 20 year history of the Annual Heritage Foundation/Wall Street Journal Ranking of economic freedom, America was not among the top 10.
More commentary on National Review.
Top 10 Countries
| rank | country | overall | change |
|---|---|---|---|
| 1 | Hong Kong | 90.1 | 0.8 |
| 2 | Singapore | 89.4 | 1.4 |
| 3 | Australia | 82.0 | -0.6 |
| 4 | Switzerland | 81.6 | 0.6 |
| 5 | New Zealand | 81.2 | -0.2 |
| 6 | Canada | 80.2 | 0.8 |
| 7 | Chile | 78.7 | -0.3 |
| 8 | Mauritius | 76.5 | -0.4 |
| 9 | Ireland | 76.2 | 0.5 |
| 10 | Denmark | 76.1 | 0.0 |
Heritage Foundation: "Economic freedom is the fundamental right of every human to control his or her own labor and property.
In an economically free society, individuals are free to work, produce, consume, and invest in any way they please.
In economically free societies, governments allow labor, capital and goods to move freely, and refrain from coercion or constraint of liberty beyond the extent necessary to protect and maintain liberty itself."Measuring Economic Freedom?
Each Graded on a scale of 0 to 100.
- Rule of Law
- property rights
- freedom from corruption
- Limited Government
- fiscal freedom
- government spending
- Regulatory Efficiency
- Business freedom
- Labor freedom
- Monetary freedom
- Open Markets
- trade freedom
- investment freedom
- financial freedom
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