Economic Freedom: Best and Worst Countries, US Timeline History

The Economic Freedom report is copublished by the Cato Institute, the Fraser Institute in Canada and more than 70 think tanks around the world.

An interactive map hows a changing timeline from 1975 to today.

The 21st edition of Economic Freedom of the World and this year’s publication ranks 159 countries and territories for 2015, the most recent year for which data are available.

Economic Freedom Components

1. Size of Government
2. Legal System and Property Rights
3. Sound Money
4. Freedom to Trade Internationally
5. Regulation

Point number 3 considers inflation, money growth, and freedom to own foreign currencies. about access to sound money. It's important that "individuals have access to sound money: who provides it makes little difference."

Partial US History

• US 3 - 1975
• US 4 - 2000
• US 5 - 2001
• US 6 - 2003
• US 8 - 2009
• US 11 - 2011
• US 13 - 2014
• US 11 - 2015 (current report for 2017)

Select Countries

• Venezuela, in hyperinflation, and ruled by a de facto dictator, is at the bottom of the list in position 159 with a score of 2.92 out of 10.
• China is 112 with a score of 6.40 out of 10.
• South America and Africa are primarily basket cases.
• Hong Kong and Singapore beat the US buy nearly one point.

Many people think China is on the way to world domination. I disagree and economic freedom is a key reason