It is surprising how many people out there hate ideas like capitalism with the overwhelming evidence that individual and economic freedom of capitalism bring people's standard of living up. I support the Fraser Institute's Free The World project. They put out a report every year where they rank countries by the amount of individual and economic freedom. These reports show that these basic economic freedoms give countries huge standards of living. Click here for the latest report.

What is Economic Freedom?

  • Personal Choice
  • Voluntary exchange coordinated by markets
  • Freedom to enter and compete in markets
  • Protection of persons and property from aggressions by others
*This is the breakdown given in the 2007 report.

A lot of people tend to confuse democracy with economic freedom and the two are completely unrelated. Democracy is the ability for all adults in a country to make political decisions, which include participating, voting, lobbying, criticizing, etc. Economic freedom is an individuals freedom to decide how they'll use and develop their abilities, exchanges goods and services with others, compete in the market, and keep the fruits of their labor. Countries like Israel and India from 1960 to 1990 had democracy, but very restrictive economic freedoms. A country like Hong Kong hasn't had very much in democratic freedom, but massive amounts of economic freedom.

Top Countries of 2007
  • Hong Kong(8.9)
  • Singapore(8.8)
  • New Zealand(8.5)
  • Switzerland(8.3)
  • Canada(8.1)
  • United Kingdom(8.1)
  • United States(8.1)
  • Estonia(8.0)
  • Australia(7.9)
  • Ireland(7.9)
Worst Countries of 2007
  • Zimbabwa(2.9)
  • Myanmar(3.8)
  • The Democratic Republic of the Congo(4.0)
  • Angola(4.2)
  • The Republic of the Congo(4.3)
  • Central Africa Republic(4.6)
  • Venezuela(4.9)
  • Burundi(5.0)
  • Chad(5.1)
  • Niger(5.1)
To conclude, there is only one moral social system of government that recognizes individual freedom and that is capitalism. Not only is it the only moral system, it allows people to have high standards of living with the highest amount of freedom. Don't let anyone tell you capitalism is bad or evil, it is the only social system that is compassionate that cares about the well being of it's people to pursue the life they choose.

PS: If you ever hear someone tell you about the greatness of Cuba, you should probably not associate with them. The fact that capitalism and communism live side by side, the standard of living difference is huge, so huge that large sums of people will hop in a tiny boat just for a chance to make it into the United States. Cuba is not a beacon of greatness. It's a country that cracks down on freedoms, rules people's lives and rules them into the ground.


Posted by Christopher | 8:43 AM | , | 0 comments »