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

Student Activists Hurt the Workers They Try to Help

By Chelsea Follett. Intercollegiate Studies Institute. June 21, 2017.

Corbyn and McDonnell’s Dark Vision of a Venezuelan Britain

By Ryan Bourne. City A.M.. June 6, 2017.

India’s Narendra Modi Wins Big: Time to Finish Economic Reforms

By Doug Bandow. Forbes. March 23, 2017.

Cato Studies

Curse or Blessing? How Institutions Determine Success in Resource-Rich Economies

By Peter Kaznacheev. Policy Analysis No. 808. January 11, 2017.

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.

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

Welfare Systems around the World

Policy Report. January/February 2017.

Global Economic Freedom Rises

Policy Report. November/December 2016.

A New Growth Agenda

Brink Lindsey. Policy Report. November/December 2015.

Events

China’s Future Depends on a Free Market for Ideas

Featuring Ian Vásquez. October 6, 2016. Policy Forum.

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.