Tuesday, September 04, 2007

Economic Freedom of the World 2007

TOP TEN BENEFITS OF ECONOMIC FREEDOM:

1. Nations in the most-free quartile of economic freedom have an average per-capita GDP of $26,013, compared to $3,305 for those nations in the least-free quartile (see chart above).

2. Nations in the top quartile have an average per-capita economic growth rate of 2.25%, compared to 0.35% for the bottom quartile.

3. In nations of the top quartile, the average income of the poorest 10% of the population is $7,334, compared to $905 for those in the bottom quartile.

4. Life expectancy is 78.7 years in the most free quartile but 56.7 years in the bottom quartile.

5. Nations in the top quartile of economic freedom have an average score of 1.8 for political rights on a scale of 1 to 7 (where 1 = the highest level), while those in the bottom quartile have an average score of 4.4.

6. Nations in the most-free quartile of economic freedom have an average score of 1.7 for civil liberties on a scale of 1 to 7, where 1 marks the highest level, while those in the least-free quartile have an average score of 4.1.

7. Nations in the top quartile of economic freedom have an average score of 81.0 (out of 100) for environmental performance, while those in the bottom quartile have an average score of 58.9.

8. The infant mortality per 1,000 live births is 69.6 in the least-free quartile, compared to only 5.9 in the most-free quartile.

9. The incidence of tuberculosis is 217.9 per 100,000 people in the least free quartile, compared to only 21.1 in the most free quartile.

10. Access to improved water sources and improved sanitation facilities is almost 100% in the most-free countries (99.2% and 97.5%), versus only 72.7% (water) and 53.5% (sanitation) in the least-free countries.

From the Economic Freedom of the World: 2007 Annual Report, released this morning by the Cato Institute, showing that economic freedom is on the rise globally.

Bottom Line: More economic freedom is associated with higher incomes, greater economic growth, increased life expectancy, a cleaner environment, greater civil liberties, less corruption, greater foreign investment, increased sanitation and water, lower infant mortality, greater political freedom, and a lower incidence of life-threatening diseases like tuberculosis.

1 Comments:

At 9/05/2007 4:04 AM, Blogger PresterJohn said...

"Hong Kong maintains the first place in economic freedom with a score of 8.9 out of 10. The other top six scores are: Singapore (8.8), New Zealand (8.5), Switzerland (8.3), Canada (8.1), United Kingdom (8.1), United States (8.1), Estonia (8.0), Australia (7.9), and Ireland (7.9)."
- cato

Interesting, with the glaring exception of our own U.S., they all have national medical insurance for their citizens ... not political protectionism for the health insurance cartel.

 

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