At No. 9 and dropping:
We're No. 9, we're No. 9!" isn't exactly a cheer that would resonate through sports stadiums in this country. But that's where the United States stands on the 2011 Index of Economic Freedom, released Wednesday by the Heritage Foundation and The Wall Street Journal.
The index indicates countries' commitment to the free enterprise/capitalist system by measuring 10 categories of economic freedom: fiscal soundness and openness to trade and investment, government size, business and labor regulation, property rights, corruption, monetary stability and financial competition.
[. . .]
The U.S. dropped to ninth place in the 2011 Index, with its lowest economic freedom score in a decade, and the U.K. fell all the way to 16th place. Those who fear we are losing economic vitality and leadership to Asia have cause for concern.”
That's because Hong Kong, Singapore, Australia, and New Zealand rule the top of the economic freedom ratings. Economic growth rates in those countries averaged 6.8 percent in 2010.
The more economic freedom, the more growth. The more growth, the less poverty. We use to know that here.
