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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?
The US Federal Reserve this week has moved one step closer to lifting interest rates by ending its controversial bond-buying program. This begins a long-anticipated process that will take many months to complete: the metamorphosis of a dove into a hawk. This leaves us with the question of a date for an actual rate hike – a moment economists expect surveyed by CNBC expect will be in July 2015, a month later than previously forecast. Read more
Joseph E. Stiglitz,
Stephen S. Roach,
Mohamed A. El-Erian,
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