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Economic Freedom

Recorded on January 18, 2012

From The Heritage Foundation, I'm Ernest Istook.

 

Every year The Heritage Foundation and the Wall Street Journal compile the Index of Economic Freedom. 179 nations are ranked on how they protect the economic liberties that enable people to live, work, produce, consume and invest to give their lives meaning and value.

 

The USA dropped down a level because of ever-growing interference with the private sector. And the most improvement anywhere was not in America, nor Europe, nor Asia, but in sub-Saharan Africa. Although Africa has a long way to go in improving living standards, they are making major improvements in reducing poverty not through more handouts but by increasing opportunity.

 

But here in the USA, we dropped from #9 to only the tenth-best in the world for economic freedom. Why? Because federal intervention keeps hampering private business and expanding government power.

 

More power for government means less freedom for us.

 

From The Heritage Foundation, I'm Ernest Istook.