U.S. Falls out of the Index of Economic Freedom's Top 10

AccountingWEB.com ^ | 06 Jan 2005 | Editors

[Robert Drobot]

AccountingWEB.com - Jan-6-2005 - For the first time ever, the U.S. does not rank among the world's 10 freest economies in the Index of Economic Freedom, published annually by The Heritage Foundation and The Wall Street Journal.

The U.S.' score in the 2005 Index did not change from 2004. But improvements in the economies of Chile, Australia and Iceland enabled all three to surpass the U. S., leaving it in a tie for 12th with Switzerland and out of the top 10 for the first time in the 11-year history of the Index.

[Robert Drobot]

The greatest debtor nation in the world is sinking from its chains of socialist-communist fical policies. Socialism has destroyed every country that took its path, and is in the process of breaking the back of a once greatest caspitalist country in the world.

[Robert Drobot]

fical fiscal policies

[Betaille]

Ironic that this is happening under a republican congress and republican president.

[Diana in Wisconsin]

The socialists will lap this up like cream. I can hear the Bush-bashing already. *Rolleyes* How much weight do economists give this report? I've never heard of it before. Will it effect the stockmarket and the US dollar?

Is it time to call in some debts, and say "Just Kiddin'" to the 350 million we just gave to tsunami relief and the 6 million dollars PER DAY we are giving them in military manpower and equipment?

[Paloma_55]

fical fiscal policies fecal policies

[odoso]

Not when you consider how long the ACLU has been at it...

[Moral Hazard]

"HERITAGE FOUNDATION/WSJ DROP U.S. FROM ITS TOP 10 ECONOMIC POWERS"

How does this headline match the article? Or your comments about it? The article is about U.S. economic freedom, not power. I doubt either the Heritage Foundation or the Wall Street Journal would put anyone other than the U.S. as the greatest economic power, considering our economy is more than twice as large as the next biggest.

And the article explained that economic freedom in the U.S. is constant. As such I fail to see what your "socialist-communist" comment has to do with anything.

[alessandrofiaschi]

There is a Problem of Economic Freedom, first of all because our big government and too many laws (IRS etc.). Damn, we must restart from Reaganism, now having a Republican majority! My fear is that, the next generation could remember Bush Administration as one that reduced taxed, but created a great Deficit to pay.

[NoClones]

the article is a load of crap...

it would be interesting to ask the author to list the countries that have a larger gnp than the USA!

[alessandrofiaschi]

Yes, ironic. Heritage Foundation deserve a great respect, and I agree with them.

[alessandrofiaschi]

Yes, ironic. Heritage Foundation deserves a great respect, and I agree with them.

[alessandrofiaschi]

I't more important than you think, among economists.

[odoso]

The headline doesn't match the article or his comment about it... However, his comment is true none the less.

[Digger]

Ironic that this is happening under a republican congress and republican president.

It is happening under the "Two-Party Cartel" owned by the elites, for the elites & their globalism/One World Order.

[Willie Green]

My fear is that, the next generation could remember Bush Administration as one that reduced taxed, but created a great Deficit to pay.

Related threads:
Bush's budget gyrations
US drops out of world's 10 freest economies list, says WSJ

In relentless pursuit of a global corporate plutocracy, the Bush Administration has left intact an economically oppressive federal regulatory bureacracy while undermining American Middle Class business interests with importation of foreign goods and labor.

[jveritas]

Crap analysis. We have the largest, the most advanced, and most free market economy in the world.

[Tribune7]

I read this in the WSJ. It wasn't so much that the USA got worse -- albeit Sarbanes-Oxley was noted -- it's that a lot of countries got better, which is a good thing.

[jveritas]

Exactly. Our GNP is almost 11 trillion dollars which account to almost 30% of the world total GNP. Now they are comparing us to Chile and Iceland. Give me a break.

[alessandrofiaschi]

Yes, the next 3 and half years should be devoted to reduce Government, Agencies and the millions of government employees financed with tax money. Republicanism with (so called) compassion is only another name for Socialism, not Free market. I repeat, this one is the last occasion.

[alessandrofiaschi]

And thanks for the links. We also could PING each other about Economics articles on FR.