Why are Some Nations Rich and Others Poor?

The Heritage Foundation has just issued its indispensable international Index of Economic Freedom for 2023. This chart shows the powerful correlation between freedom and growth.

Countries that are mostly free are 10 times richer per person than the most socialistic nations and three times richer than nations with average freedom. Economic freedom had been trending upward over the last two decades, but since COVID hit, freedom has fallen – and so has economic growth.


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