2017 Index Of Economic Freedom, Institute For Economic Freedom
by Terry Miller /
2017 / English / PDF
19.6 MB Download
Economic freedom is a critical element of human well-being and a vital linchpin in sustaining a free civil society. As Friedrich A. Hayek foresaw decades ago, “The guiding principle in any attempt to create a world of free men must be this: a policy of freedom for the individual is the only truly progressive policy.” Indeed, the best path to prosperity is the path of freedom: letting individuals decide for themselves how best to achieve their dreams and aspirations and those of their families. It is that path whose course is charted in the Index of Economic Freedom.
In practice, each country’s path to growth and development must be tailored to its own culture, history, and unique conditions, but there are certain fundamental characteristics of that path that are common to all countries. Nations with higher degrees of economic freedom prosper because they tend to capitalize more fully on the knowledge and ability of all individuals in society. Given a chance, the free-market system provides a framework for organizing, without coercion, the skills, talents, and effort of individuals toward the production of the goods and services most in demand by their fellow citizens. For society as a whole, this generates dynamic economic growth and promotes innovation through the efficient allocation of resources.
