The more economic freedom, the better things get for people

| December 7 2013
Christopher Cook

We keep reporting on it, over and over. Every survey of economic freedom shows the same thing: as economic freedom increases, human well-being increases.

Of course, the converse of that is also true. As economic freedom DECREASES, so does human well-being.

So why on earth would we do anything to decrease economic freedom? In light of the mountains of data on this subject, any action to decrease economic freedom needs to be seen as blatant disregard for human well-being. Possibly even malicious disregard.

economic_freedom_human_well-being_capitalism_free-markets

From Insider Online:

Pope Francis is no fan of free markets, we learned this week from his Evangelii Gaudium. In particular he writes:

Today everything comes under the laws of competition and the survival of the fittest, where the powerful feed upon the powerless. As a consequence, masses of people find themselves excluded and marginalized: without work, without possibilities, without any means of escape.

What’s actually going on is pretty much the opposite of what the Pope thinks. Earlier this year, Economist reported:

In 1990, 43% of the population of developing countries lived in extreme poverty (then defined as subsisting on $1 a day); the absolute number was 1.9 billion people. By 2000 the proportion was down to a third. By 2010 it was 21% (or 1.2 billion; the poverty line was then $1.25, the average of the 15 poorest countries’ own poverty lines in 2005 prices, adjusted for differences in purchasing power). The global poverty rate had been cut in half in 20 years . . . keep reading