TOP Countries by Economic Freedom 1996-2019 ( Most free)
This video ranks the top and bottom 15 countries in the world from 1996 to 2019 based off of the Heritage Foundation's Index of Economic Freedom. The countries are scored between 0 and 100, with 0 meaning "no economic freedom" and 100 meaning "total economic freedom". This score is measured based off of 12 factors in the categories of rule of law, government size, regulatory efficiency, and open markets. You can read more about the index here: [ Ссылка ]
A recent report by the McKinsey Global Institute affirms that the recipe for wealth and prosperity encompasses economic freedom as its main ingredient.
As a vital component of human dignity and autonomy, economic freedom is valuable as an end in itself. Just as important, however, is the fact that economic freedom provides a proven pathway for economic progress and prosperity.
Advancing economic freedom is really about empowering individuals and enterprises through sound policies of market openness, regulatory efficiency, and limited government within the rule of law.
The McKinsey report’s “recent outperformer” countries, which are defined as having about 5% compound annual gross domestic product per-capita growth from 1996 to 2016, beat all other categories in terms of advancing economic freedom by a wide margin.
Since 1995, when The Heritage Foundation started measuring the entrepreneurial policy environments of countries around the world in its annual Index of Economic Freedom, the 11 McKinsey “recent outperformer” countries—Azerbaijan, Belarus, Cambodia, Ethiopia, India, Kazakhstan, Laos, Burma, Turkmenistan, Uzbekistan, and Vietnam—improved by about 16 points on average in economic freedom, with Azerbaijan improving the most at 35.4 points and Cambodia the least, although still positive by 5 points.
By contrast, McKinsey’s “underperformers” (50 years of very low economic growth) actually lost about 2 points of economic freedom on average over the history of Heritage’s index.
The relationship between advancing economic freedom and rapid, sustainable economic growth is dramatic and positive. Improvements in economic freedom are a vital ingredient in the expansion of GDP per capita.
Economic freedom—cultivated by the rule of law, limited government, regulatory efficiency, and open markets—has proven to be critical for generating the broader-based economic growth that creates opportunities in all sectors of society.
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