Put simply, the greater a country’s economic freedom, the greater its level of prosperity over time. Likewise, the greater a country’s economic freedom, the faster it will grow. Economic freedom, which includes not only policies, such as free trade and stable money, but also institutions, such as the rule of law and the security of private property rights, increases more than income. It is also strongly related to improvements in other development indicators such as longevity, access to safe drinking water, lower corruption, and dramatically higher incomes for the poorest members of society.

More on Economic Freedom

Commentary

Reagan’s Russia Trip Should Be Obama’s Roadmap in Cuba

By David Boaz. Washington Post. March 18, 2016.

Corporations Should Flee America

By Doug Bandow. Foundation for Economic Education. March 14, 2016.

Bernie Is Not a Socialist and America Is Not Capitalist

By Marian L. Tupy. The Atlantic. March 1, 2016.

Cato Studies

Capitalism’s Assault on the Indian Caste System: How Economic Liberalization Spawned Low-Caste Dalit Millionaires

By Swaminathan S. Anklesaria Aiyar. Policy Analysis No. 776. July 21, 2015.

State Capitalism vs. Private Enterprise

By Donghua Chen, Dequan Jiang, Alexander Ljungqvist, Haitian Lu, & Mingming Zhou. Research Briefs in Economic Policy No. 28. June 17, 2015.

Austerity in 2009–2013

By Alberto Alesina, Omar Barbiero, Carlo Favero, Francesco Giavazzi, & Matteo Paradisi. Research Briefs in Economic Policy No. 19. February 4, 2015.

Articles

The Rise of Emerging Economies: Challenges and Liberal Perspectives

Juan Carlos Hidalgo. The Friedrich Naumann Stifftung. November 5, 2013.

What Are the Lessons from Post-Communist Transitions?

Dalibor Rohac. Economic Affairs. Vol. 33. No. 1. February 6, 2013.

From Fighting the Drug War to Protecting the Right to Use Drugs: Recognizing a Forgotten Liberty

Doug Bandow. Towards a Worldwide Index of Human Freedom. 2013.

Public Filings

Vong v. Aune

By Ilya Shapiro, Eliott Engstrom, and Julio Colomba. Legal Briefs. March 3, 2015.

Cato Reviews & Journals

A New Growth Agenda

Brink Lindsey. Policy Report. November/December 2015.

Ranking Global Freedom

Policy Report. September/October 2015.

Defending Sweatshops

Pierre Lemieux. Regulation. Summer 2015.

Events

Is the European Union a Friend or Foe of Economic Freedom?

Featuring Richard W. Rahn and Marian L. Tupy. February 17, 2016. Policy Forum.

Ranking Economic Freedom around the World

Featuring Ian Vásquez and Caleb O. Brown. October 28, 2014. Sponsor E-Briefing.

The Undercover Economist Strikes Back: How to Run — or Ruin — an Economy

Featuring Dalibor Rohac. January 23, 2014. Book Forum.