While economic freedom continues to expand around the globe, economic freedom continues to decline in the United States, according to the new 2016 Index of Economic Freedom.
The United States now ranks 11th in the world in economic freedom. “With losses of economic freedom in eight of the past nine years, the U.S. has tied its worst score ever, wiping out a decade of progress,” Heritage’s Anthony Kim reports.
“‘We’re number 11’ isn’t the motto of this great nation,” Rep. Kevin Brady (R-TX) said Monday at the launch of the Index.
Dragging down America’s score is increased government involvement in the economy–new taxes, regulations, and spending that limit free enterprise. Speaking at the Index’s launch, Heritage economist Terry Miller pointed this out is ironic considering ours is the first country built upon the principle of limited government.
The Index ranks each country on four key areas: rule of law; limited government; regulatory efficiency; and open markets. Read the whole Index, including the full rankings of each country.
Since 1995, The Heritage Foundation has partnered with The Wall Street Journal to evaluate and measure economic freedom across the globe in the Index, now in its 21st edition.
What do you think? Should America rank higher than 11th for economic freedom?