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LIST: USA Drops Out of Top 10 Economically Freest Countries

Regulation, taxes and debt knock the U.S. out of the world's top 10.

By Terry Miller | Wall Street Journal | Jan. 13, 2014

World economic freedom has reached record levels, according to the 2014 Index of Economic Freedom, released Tuesday by the Heritage Foundation and The Wall Street Journal. But after seven straight years of decline, the U.S. has dropped out of the top 10 most economically free countries.

For 20 years, the index has measured a nation's commitment to free enterprise on a scale of 0 to 100 by evaluating 10 categories, including fiscal soundness, government size and property rights. These commitments have powerful effects: Countries achieving higher levels of economic freedom consistently and measurably outperform others in economic growth, long-term prosperity and social progress. Botswana, for example, has made gains through low tax rates and political stability.

Those losing freedom, on the other hand, risk economic stagnation, high unemployment and deteriorating social conditions. For instance, heavy-handed government intervention in Brazil's economy continues to limit mobility and fuel a sense of injustice.

It's not hard to see why the U.S. is losing ground.

Read more: http://online.wsj.com/news/articles/SB1000142405270230384810...

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How could Canada be ranked 6th? Aren't they communists?

How could socialists be ranked that high?

Glad to see Chile #7, thinkin bout retiring down there eventually.

Surprised to see Israel ranked 44th and France 70th. Very unexpected.

Nice article E, thanks for posting.

When I was a teenager in the

When I was a teenager in the 60's I remember them saying war was good for the American economy, was good for America

They were liars, thieves and murderers and that was during a time when they almost snatched us out of high school. Now young people all volunteer and are destroying this place morally and financially and doing it voluntarily.

The world is my country, all mankind are my brethren, and to do good things is my religion. Thomas Paine, Godfather of the American Revolution

Chile! Huge transformation in the works!

Number 7. distantly trailed in South America by Colombia, number 34, Uruguay at 38 (you'll be hearing more about Uruguay), Peru at 47 and that other expat magnet Costa Rica at 53.

Everybody is thinking about Panama as the financial mecca but it's all the way down at 72.

There is nothing strange about having a bar of soap in your right pocket, it's just what's happening.

For some reason

Chile holds a magnetic attraction for me too ;)

Economy growing at something like 3-4% annually

since roughly 1990. Man there's a lot to talk about. My context with Chile is...well if you've seen my 4 Pillars post....oh heck I'm gonna have to do a post just about Chile but really short, there it is on the West coast, this sliver of coastal land at the foot of the Andes. Overland transport isn't great and it's almost unfathomably tall. So there's our geography and it makes shipping (like ocean going) a major factor in their economy. From there, it's kind of natural to find them looking across oceans and doing international deals of growing scale. By way of example you see a lot of trucks, cars, motorcycles, scooters of ever description that never get seen here.

There is nothing strange about having a bar of soap in your right pocket, it's just what's happening.

Iceland

Right between 11)Estonia and 13) Bahrain, of course!

The State of the Unions are fine with it.

Find out just what any people will quietly submit to and you have the exact measure of the injustice and wrong which will be imposed on them. - Frederick Douglass

As I see it, there is a war or at least a disadvantage for small

business creation. Between, regulations, licensing, zoning, federal state and local taxes, healthcare mandates, availability for financing, minimum wage laws and the clear advantage large companies can lobby for, small business is handcuffed. Its widely known that small business is the engine for employment, but the odds are stacked against it.
I understand its easier to start a business in China than here in the US.

Most of us are familiar with getting car loans and home loans, getting a small business loan is an entirely different thing. As an example a close friend of mine bought a carwash (50% down payment) in a small town here some time ago. The local bank was so intimidating that they literally brought him into a conference room, were very rude, lorded over him and said "just who is (name withheld) and why in the hell should we give you a loan? He finally got the loan from another bank, bought and paid off the carwash and still refuses to wash any of their cars.

"I understand its easier to start a business in China than here

in the US."

China is at 137 on the list.

The individual has always had to struggle to keep from being overwhelmed by the tribe. If you try it, you will be lonely often, and sometimes frightened. But no price is too high to pay for the privilege of owning yourself.
Friedrich Nietzsche

Nice list...good to know!

Thanks for that great find! Bookmarked : )

∩ƧɄİ

∩ƧɄİ, ∩ƧɄİ, ∩ƧɄİ

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Regarding Palin: I believe we are watching in real time the rise of the third party, which will be controlled by the powers that be from its' inception.

Next Scam: "Cash For Cash"

http://www.RonPaul2012.com

Thought the date was going to be Jan13, 1914

The US has been in the top 10 for this long? Surprises me. Just goes to show that Economic Freedom is extremely rare, and/or those who judge it use the same mentality as those who Rate Unemployment and GDP.