Economies: which are the more or less free in the world

2 January 20222 years ago babelfish

On this page we will talk about economic freedom, as guaranteed by state authorities and their laws. The ranking that we present to you is drawn up by the Heritage Organization, it is the Economic Freedom Index , then translated into images by Visual Capitalist. We present it for informational purposes because we may not agree with all of its values.

The index uses five broad areas to assess economic freedom for each country:

Government size: Higher public spending, taxation, and larger government agencies tend to reduce individual choice and economic freedom.
Legal system and property rights: The ability to accumulate private property and wealth is a central motivating force for workers and investors in a market economy, and well-functioning legal frameworks protect the rights of all citizens.
Hard currency: does the money earned hold its value or is it lost due to inflation? When inflation is high and volatile, individuals cannot plan for the future and use economic freedom effectively.
Freedom of International Trade: Freedom of trade, in its broadest sense, buying, selling, entering into contracts and so on, is considered essential to economic prosperity. Limited international trading options significantly reduce growth potential.
Regulation: When governments use tools and impose oppressive regulations that restrict the right to trade, economic freedom typically suffers.

First of all, here is the global picture

So let's start analyzing the individual macroeconomic areas:

Americas

Europe

Africa

Middle East

Far East and Oceania

It would now be interesting to rank the countries according to their ability to protect human and social rights …

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The article Economies: which are the more or less free in the world comes from ScenariEconomici.it .

This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/economie-quali-sono-le-piu-o-meno-libere-del-mondo/ on Sun, 02 Jan 2022 08:00:45 +0000.