JMI Senior Fellow Dr. James Gwartney is co-author of the Economic Freedom of the World: 2010 Annual Report recently released by the Cato Institute (U.S.) and Fraser Institute (Canada).The index published in the report measures the degree to which the policies and institutions of countries are supportive of economic freedom. The cornerstones of economic freedom are personal choice, voluntary exchange, freedom to compete, and security of privately owned property.Of note:
–Economic freedom suffered its first setback in decades.
–U.S. fell to 6th place with Hong Kong retaining the highest rating for economic freedom, followed by Singapore, New Zealand, Switzerland, Chile, the United States, Canada, Australia, Mauritius, and the United Kingdom.
–Contains new research showing the impact of economic freedom on unemployment rates and homicides.