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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.

The United States has dropped out of the world's top 10 "freest economies" in a ranking released Tuesday by the conservative Heritage Foundation. The organization, which promotes low taxes and limited government regulation, said the United States was tied for 12th place with Switzerland in the 2005 Index of Economic Freedom. Hong Kong retained its top ranking in the survey, followed by Singapore, Luxembourg and Estonia. Ireland and New Zealand tied for fifth place, followed by Britain, Denmark, Iceland and Australia in the top 10. Chile ranked 11th. "Perhaps the greatest surprise in this year's index is the failure, for...

For education and discussion only. Not for commercial use. NEW YORK, January 5 (Itar-Tass) - For the first time since 1993 when the U.S.-based conservative Heritage Foundation and The World Street Journal began compiling the Index of Economic Freedom, the U.S. has dropped out of the list of the world´s top ten economies with the biggest degree of economic freedom. In 2001, the U.S. occupied the sixth position on the list. It has slid to the 12th place now, sharing it with Switzerland. The Index for 2005 that the Heritage Foundation think tank and the WSJ released Tuesday ranks Hong...

IN the almost six decades since the end of World War II, intellectual opinion in the US about the desirable role of government has undergone a major shift. At the end of the war, opinion was predominantly collectivist. Socialism - defined as government ownership and operation of the means of production - was seen as both feasible and desirable. Those few of us who favoured free markets and limited government were a beleaguered minority. In subsequent decades, opinion moved away from collectivism and toward a belief in free markets and limited government. By 1980 opinion had moved enough to enable...

Even the staunchest free trader might reluctantly concede that the apparatus of protectionism—tariffs, import quotas, and antidumping duties—is constitutional because clause 3 of Article I, Section 8, of the U.S. Constitution delegates to Congress “power…to regulate commerce with foreign nations….” Before we make too hasty a concession, however, let’s take a closer look. Clause 1 of the section establishing Congress’s powers states, in part, “The Congress shall have power to lay and collect taxes…to…provide for the general welfare of the United States….” The preamble to the Constitution also declares that one purpose of the document is to “promote the general...

American mobility is legendary and the notion that it is driven by a desire for liberty is the basis for the methodology behind the Pacific Research Institute's U.S. Economic Freedom Index released last week. Kansas is America's freest state while New York -- home of the Statue of Liberty -- ranks at the bottom. The Index uses five categories -- fiscal, regulatory, judicial, government size and welfare -- to measure and compare economic freedom in the 50 states. Among the variables are tax rates, state spending, occupation licensing, environmental regulations, income redistribution, right-to-work laws, minimum wage and tort law. Co-author...

Pacific Research Institute ranks the 50 States. 1. Kan. 11. Ariz. 21. Mont. 31. Wash. 41. Mass. 2. Colo. 12. Nev. 22. Fla. 32. W. Va. 42. N.J. 3. Va. 13. S.C. 23. Ark. 33. Alaska 43. Ohio 4. Idaho 14. Ind. 24. N.C. 34. Mich. 44. Minn. 5. Utah 15. S.D. 25. Ala 35. Hawaii 45. Penn. 6. Okla. 16. Iowa 26. Tenn 36. Vt. 46. Ill. 7. N.H. 17. Texas 27. Md. 37. N.M. 47. R.I. 8. Del. 18. N.D. 28. Miss. 38. Wisc. 48. Conn. 9. Wy. 19. Ga. 29. Ore. 39. Ky. 49. Calif. 10. Mo....

President Bush plans to overhaul his economic team for the second time in two years and wants to tap prominent figures outside the administration to help sell rewrites of Social Security and the tax laws to Congress and the country, White House aides and advisers said over the weekend. The aides said the replacement of four of the five top economic officials -- including the Treasury and Commerce secretaries, with only budget director Joshua B. Bolten likely to remain -- is part of Bush's preparation for sending Congress an ambitious second-term domestic agenda.

PA ranks at the bottom of the pile when it comes to economic freedom and at the top of the pile when it comes to how much we pay our state legislators.

WASHINGTON – Even though Hong Kong is experiencing political difficulties, it retains the highest ranking for economic freedom, according to a survey released Thursday. Hong Kong is closely followed by an Asian neighbor, Singapore, in "Economic Freedom of the World: 2004 Annual Report," produced by the Cato Institute, a think tank that advocates limited government. There was a massive pro-democracy demonstration in Hong Kong on July 1, and many analysts predict the territory will be locked in an uncomfortable political standoff with China for the foreseeable future. The United States tied for third place in the survey with New Zealand,...

Let's take a look at what works--globally and in Pennsylvania and Pittsburgh. Just released, the 2004 Index of Economic Freedom, published by the Wall Street Journal and The Heritage Foundation, provides a country-by-country analysis of economic growth measured against ten categories of economic freedom, including tax rates, regulations, government intervention in the economy, private property rights, and the fiscal burden of government. What the study shows is that the nations with the most economic freedom are also the most prosperous. "Economic freedom makes all the difference," writes Heritage President Ed Feulner. "When a government stops meddling with its people's money,...

<p>Despite another year under the dark shadow of Islamist terrorism, the world remains on a path toward greater liberty, according to the findings of The 2004 Index of Economic Freedom released today.</p> <p>In this 10th anniversary edition of the Index, published each year by the Heritage Foundation and The Wall Street Journal, Europe continued an important trend begun last year, with seven more countries exhibiting an increase in freedom than exhibited a decline. North America and Europe are now home to seven of the world's 10 most liberal economies.</p>

<p>THE OLD, TIRED IDEA that America has only a finite number of jobs -- and that we must guard them zealously against raids from cheap foreign labor -- has been making a remarkable comeback. The only difference is that its upside-down view of the economy has plumbed new depths.</p>

The subject of ethics has increasingly been present in economic analysis,1 although not without considerable debate. Some economists believe that the importance of economics is purely technical. Others believe that moral considerations in economic analysis provide a more accurate picture of possible outcomes since it takes into consideration the human aspect of economic actors--that is, people.I confess that, as an economist, it makes me nervous to insert subjective measures such as morality and ethics when I do my own analysis, both because my conclusions may be applicable only to a few cases and because morality and ethics are hard to...

American parasites By Charles Bloomer web posted April 21, 2003 The recent effort to liberate Iraq has brought out the absolute worst in the hate-America crowd. Among the most bitter and vitriolic whiners are those that have benefited significantly from the cultural and economic freedom they enjoy by living in the United States. These are the people that use their freedom, their celebrity status, and their money to gain access to media coverage not available to the common person. I prefer to call these people American Parasites. The list of complainers is too long to record here, but includes a...

<p>In the 2003 Index of Economic Freedom, released today by the Heritage Foundation and The Wall Street Journal, the big story is Europe. Six of the 10 freest economies in the Index are in North America or Europe and half of all "free" economies are in Europe. European politicians may cling to the rhetoric of socialism, but on much of that continent, economic liberty is gaining ground.</p>

http://www.nationalreview.com/nrof_comment/comment-lawson071202.asp July 12, 2002, 8:45 a.m. The Safety Net of Freedom Better to be poor in a rich country, than poor in a poor one. By Robert A. Lawson Both as an ideology and as a practical system, communism has utterly failed to deliver the goods. Eastern European nations are now rushing to become members of the European Union, and China is undertaking market-oriented reforms. Cuba and North Korea stand as the last remaining communist stalwarts. One would think that this failure of communist central planning would have unleashed a groundswell of support for its main ideological alternative: economic freedom...

http://www.nationalreview.com/nrof_comment/comment-schaefer050802.asp May 8, 2002 Big-Hearted Globalism Protestors would bank on globalization if they knew the facts. By Brett D. Schaefer It's all too easy, when the anti-globalization crowd hits town, to get distracted by the cheap street-theater and ignore the fact that these self-anointed "champions of the poor" have it exactly backward when they claim a global economy brings more poverty. They did provide a colorful diversion for those of us in Washington recently as they poured out their frustrations on the World Bank and the International Monetary Fund (IMF). But if they want to help the poor, they should...