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According to Economic Freedom Network, individuals have economic freedom when “property they acquire without the use of force, fraud, or theft is protected from physical invasions by others and they are free to use, exchange, or give property as long as their actions do not violate the identical rights of others.”
On that basis, freer economies are known to have higher incomes, longer life expectancies, lower infant mortality rates, greater literacy, and more civil and political liberties – factors that directly affect standards of living.
How much economic freedom exists in your country?
On Independence Day 2014, India’s Prime Minister Narendra Modi launched his financial inclusion plan to provide a bank account to every Indian household. His ‘Jan-Dhan Yojana’ (Scheme for People’s Wealth) — which, in typical Modi vernacular, plays on rhyming words — seeks to provide financial independence to unbanked Indians through a two-phase plan. Read more
Stephen S. Roach,
Mario Blejer & Eduardo Levy Yeyati,
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