U.S. Slips in Economic Freedom Rankings

Economic freedom around the world remains on the rise but it has declined notably in the U.S. since the year 2000, according to the Economic Freedom of the World: 2008 Annual Report, released by the Cato Institute in conjunction with the Fraser Institute of Canada. In 2000 the U.S. was ranked the second-freest economy, but has fallen to 8th place this year. “The rule of law, government spending, and regulation are the areas where the United States saw the most troubling declines in its ratings this decade,” comments Cato scholar Ian Vasquez.