Cato Institute recently published this report. Here is an excerpt of the findings.
Global economic freedom fell slightly in this year’s report, and it remains well below its peak level of 6.92 in 2007. The average score fell to 6.84 in 2012, the most recent year for which data is available. In this year’s index, Hong Kong retains the highest rating for economic freedom, 8.98 out of 10. The rest of this year’s top scores are Singapore, 8.54; New Zealand, 8.25; Switzerland, 8.19; Mauritius, 8.09; United Arab Emirates, 8.05; Canada, 8.00; Australia, 7.87; Jordan, 7.86; and, tied for 10th at 7.84, Chile and Finland.
The United States, once considered a bastion of economic freedom, now ranks 12th in the world, tied with the United Kingdom at 7.81. Due to a weakening rule of law, increasing regulation, and the ramifications of wars on terrorism and drugs, the United States has seen its economic freedom score plummet in recent years, compared to 2000 when it ranked second globally.
To really appreciate this report it helps to see the changes in top scores between this report and 1995. The table below is the 15 countries that are the top 10 scores. Mauritius is a new island nation in the Indian Ocean that only began being included in these reports in 2005. It rose in ranks from 111/141 in 2009 to 5/152 in the newest report. The number immediately after each country is the number of places that the country rose or fell. The three countries that rose the most are Muslim. The four countries that fell the most are liberal progressive with a self-loathing of their sovereign nation.
|Hong Kong||1/152||Hong Kong||1/123|
|New Zealand||3/152||New Zealand||3/123|
|Switzerland +3||4/152||United States||4/123|
|United Arab Emirates +30||6/152||United Kingdom||6/123|
|United Kingdom -6||12/152||Finland||20/123|
|United States -8||12/152||United Arab Emirates||36/123|
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