hello mish, noted the read you wrote. very interesting.
if you recall, am based in hong kong. had a week ago visited singapore for workation.
given that hong kong is and had for some time been ranked #1, and singapore #2 by cato, i share a one liner observation based on nothing more than impressions
should we of this planet be visited by aliens from out there of indeterminate disposition, the world best be served by folks from hong kong. in a military episode, hk folks would make better rebellion members and singapore folks would make better main stream soldiers.
re your take on china and economic freedom, my read is that given the chinese can survive hong kong and singapore well enough, they can survive china better, simply because there are more of them in china, thus you may have to disagree for the coming 30 years. it may be that the direction of scoring is as or more important than the absolute score.
the read on south america and africa probably correct, especially as applied to brazil :0))))
themaven.net
Economic Freedom: Best and Worst Countries, US Timeline History
Mike Mish Shedlock
The Fraser Institute ranks countries based on economic freedom. In 2010, the US fell out of the top 10. It's now 11.
The Economic Freedom report is copublished by the Cato Institute, the Fraser Institute in Canada and more than 70 think tanks around the world.
An interactive map hows a changing timeline from 1975 to today.
The 21st edition of Economic Freedom of the World and this year’s publication ranks 159 countries and territories for 2015, the most recent year for which data are available.
Economic Freedom Components
Size of Government
Legal System and Property Rights
Sound Money
Freedom to Trade Internationally
Regulation
Point number 3 considers inflation, money growth, and freedom to own foreign currencies. about access to sound money. It's important that "individuals have access to sound money: who provides it makes little difference."
US 3 - 1975
US 4 - 2000
US 5 - 2001
US 6 - 2003
US 8 - 2009
US 11 - 2011
US 13 - 2014
US 11 - 2015 (current report for 2017)
Venezuela, in hyperinflation, and ruled by a de facto dictator, is at the bottom of the list in position 159 with a score of 2.92 out of 10.
China is 112 with a score of 6.40 out of 10.
South America and Africa are primarily basket cases.
Hong Kong and Singapore beat the US by nearly one point.
Many people think China is on the way to world domination. I disagree, and economic freedom is a key reason |
