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USA Down to 18th in Economic Freedom

Started by Habbaku, September 19, 2012, 03:05:03 PM

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Habbaku

September 19, 2012, 03:05:03 PM
Cato (et al) have released their annual economic freedom index and the rankings of each country.  The USA has plummeted several positions in the last decade, which is not all that surprising considering the heaps of legislation that's been enacted in that time-frame.  Now we're behind the Brits.  :Embarrass:

http://www.cato.org/pubs/efw/index.html

QuoteGlobal economic freedom bounced back slightly in this year's report. After falling for two consecutive years following a long trend of increases, the average score rose from 6.79 in 2009 to 6.83 in 2010, the most recent year for which data is available. In this year's index, Hong Kong retains the highest rating for economic freedom, 8.90 out of 10 (down slightly from 9.01 last year). The rest of this year's top scores are Singapore, 8.69; New Zealand, 8.36; Switzerland, 8.24; Australia, 7.97; Canada, 7.97; Bahrain, 7.94; Mauritius, 7.90. Finland, 7.88; and Chile, 7.84. Bahrain and Finland are new to the top 10 — replacing, notably, the United Kingdom (fell to 12th) and the United States (a sizable drop to 18th).

The United States, long considered the standard bearer for economic freedom among large industrial nations, has experienced a substantial decline in economic freedom during the past decade. From 1980 to 2000, the United States was generally rated the third freest economy in the world, ranking behind only Hong Kong and Singapore. After increasing steadily during the period from 1980 to 2000, the chain linked EFW rating of the United States fell from 8.65 in 2000 to 8.21 in 2005 and 7.70 in 2010. The chain-linked ranking of the United States has fallen precipitously from second in 2000 to eighth in 2005 and 19th in 2010 (unadjusted ranking of 18th).

The rankings (and scores) of other large economies in this year's index are Japan, 20th (7.64); Germany, 31st (7.52); France, 47th (7.32); Italy, 83rd (6.77); Mexico, 91st, (6.66); Russia, 95th (6.56); Brazil, 105th (6.37); China, 107th (6.35); and India, 111th (6.26).

Nations in the top quartile of economic freedom had an average per-capita GDP of $37,691 in 2010, compared to $5,188 for bottom quartile nations in 2010 current international dollars. In the top quartile, the average income of the poorest 10% was $11,382, compared to $1,209 in the bottom in 2010 current international dollars. Interestingly, the average income of the poorest 10% in the most economically free nations is more than twice the overall average income in the least free nations. Life expectancy is 79.5 years in the top quartile compared to 61.6 years in the bottom quartile, and political and civil liberties are considerably higher in economically free nations than in unfree nations.

The first Economic Freedom of the World Report, published in 1996, was the result of a decade of research by a team which included several Nobel Laureates and over 60 other leading scholars in a broad range of fields, from economics to political science, and from law to philosophy. This is the 16th edition of Economic Freedom of the World and this year's publication ranks 144 nations for 2010, the most recent year for which data are available.



Executive Summary :

http://www.cato.org/pubs/efw/efw2012/efw-2012-executive-summary.pdf
The medievals were only too right in taking nolo episcopari as the best reason a man could give to others for making him a bishop. Give me a king whose chief interest in life is stamps, railways, or race-horses; and who has the power to sack his Vizier (or whatever you care to call him) if he does not like the cut of his trousers.

Government is an abstract noun meaning the art and process of governing and it should be an offence to write it with a capital G or so as to refer to people.
-J. R. R. Tolkien

Valmy

#1
September 19, 2012, 03:07:52 PM
Denmark is more vulture Capitalistic than the evil heartless Yankees.  :nelson: for failing at Scandi Commieness.
Quote"This is a Russian warship. I propose you lay down arms and surrender to avoid bloodshed & unnecessary victims. Otherwise, you'll be bombed."

Zmiinyi defenders: "Russian warship, go fuck yourself."

garbon

#2
September 19, 2012, 03:09:57 PM
Quote from: Valmy on September 19, 2012, 03:07:52 PM
Denmark is more vulture Capitalistic than the evil heartless Yankees.  :nelson: for failing at Scandi Commieness.

Finland and Denmark are higher than us but Norway and Sweden are below. :huh:
"I've never been quite sure what the point of a eunuch is, if truth be told. It seems to me they're only men with the useful bits cut off."
I drank because I wanted to drown my sorrows, but now the damned things have learned to swim.

The Brain

#3
September 19, 2012, 03:12:02 PM
How's Macau?
Women want me. Men want to be with me.

Habbaku

#4
September 19, 2012, 03:13:51 PM
The medievals were only too right in taking nolo episcopari as the best reason a man could give to others for making him a bishop. Give me a king whose chief interest in life is stamps, railways, or race-horses; and who has the power to sack his Vizier (or whatever you care to call him) if he does not like the cut of his trousers.

Government is an abstract noun meaning the art and process of governing and it should be an offence to write it with a capital G or so as to refer to people.
-J. R. R. Tolkien

CountDeMoney

#6
September 19, 2012, 03:32:47 PM
Great, a "roll back regulatory control" thread, complete with Koch Bros PowerPoints.  Haven't had one of those for a while.

Monoriu

#7
September 19, 2012, 03:38:59 PM
Even though we rank no.1 again, I have to say these lists are essentially pointless.  I've talked to a lot of these rating agencies and researched their methodologies (in an effort to improve HK's ranking  :ph34r:).  Most of these rankings are done arbitrarily, I have to say.  Very often, they hire random guys to give subjective ratings to each area.  They issue surveys to record "impressions".  A small change to the methodology can result in entirely different rankings even if there is no substantive change to the fundamentals.  Believe me when I say that many governments have hired armies of office drones to influence the rankings.  I've heard my fair share of "hey if you commission us to do this and that project, maybe we can talk to the ranking guys to, err, enhance the methodology :contract:"

Habbaku

#8
September 19, 2012, 03:44:03 PM
Quote from: CountDeMoney on September 19, 2012, 03:32:47 PM
Great, a "roll back regulatory control" thread, complete with Koch Bros PowerPoints.  Haven't had one of those for a while.

Regulation makes up only one marker in the ratings.  The USA has lost ground on such Randroid fetishes as reliability of police, bribes and favoritism and trade barriers.  ;)

I'm sure you think Canada is compromisingly under-regulated, though, right?
The medievals were only too right in taking nolo episcopari as the best reason a man could give to others for making him a bishop. Give me a king whose chief interest in life is stamps, railways, or race-horses; and who has the power to sack his Vizier (or whatever you care to call him) if he does not like the cut of his trousers.

Government is an abstract noun meaning the art and process of governing and it should be an offence to write it with a capital G or so as to refer to people.
-J. R. R. Tolkien

Sheilbh

#10
September 19, 2012, 04:02:27 PM
Quote from: CountDeMoney on September 19, 2012, 03:32:47 PM
Great, a "roll back regulatory control" thread, complete with Koch Bros PowerPoints.  Haven't had one of those for a while.
I'll read up on it later, but given the Euro countries ahead of the US I'm not sure that's it. With US it could be issues of transparency, predictability and consistency? I'm just thinking that US regulators seem to change more with the political complexion than in many other countries.
Let's bomb Russia!

Valmy

#11
September 19, 2012, 04:27:46 PM
Quote from: Monoriu on September 19, 2012, 03:38:59 PM
Even though we rank no.1 again, I have to say these lists are essentially pointless.  I've talked to a lot of these rating agencies and researched their methodologies (in an effort to improve HK's ranking  :ph34r:).  Most of these rankings are done arbitrarily, I have to say.  Very often, they hire random guys to give subjective ratings to each area.  They issue surveys to record "impressions".  A small change to the methodology can result in entirely different rankings even if there is no substantive change to the fundamentals.  Believe me when I say that many governments have hired armies of office drones to influence the rankings.  I've heard my fair share of "hey if you commission us to do this and that project, maybe we can talk to the ranking guys to, err, enhance the methodology :contract:"

Why is the Hong Kong government so concerned with these rankings?  I am pretty sure nobody in the US Government is all that interested in what the Cato Institute thinks...unless Cato is making campaign donations or something.
Quote"This is a Russian warship. I propose you lay down arms and surrender to avoid bloodshed & unnecessary victims. Otherwise, you'll be bombed."

Zmiinyi defenders: "Russian warship, go fuck yourself."

garbon

#12
September 19, 2012, 04:42:22 PM
Quote from: Valmy on September 19, 2012, 04:27:46 PM
Why is the Hong Kong government so concerned with these rankings?  I am pretty sure nobody in the US Government is all that interested in what the Cato Institute thinks...unless Cato is making campaign donations or something.

Right?
"I've never been quite sure what the point of a eunuch is, if truth be told. It seems to me they're only men with the useful bits cut off."
I drank because I wanted to drown my sorrows, but now the damned things have learned to swim.

Phillip V

#13
September 19, 2012, 05:05:28 PM
We need to free America.

FunkMonk

#14
September 19, 2012, 08:37:14 PM
To echo Valmy, not many people about stupid lists drawn up by the Cato Institue.
Person. Woman. Man. Camera. TV.
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