This year’s Economic Freedom of North America 2014 (EFNA) report shows that, once again, while we are the United States, our states have bigger differences than climate, seasons and terrain.
property rights
With the recent Russian-inspired tragedies in eastern Ukraine and the war between Israel and Hamas in Gaza, much of the world is understandably focused on those regions. But another continent, Asia, is worth watching, particularly Chinese government action vis-à-vis Hong Kong.
"Travel", said Francis Bacon, "is part of education for the young and a part of experience for those who are older." But there is an additional benefit from a journey outside of one's own borders: a reminder of why certain places function better than others.
In a recent trip to Hong Kong, I met with a plethora of civil servants, some politicians and a few business people, all with an obvious interest in the future of that territory. My purpose was simple: to get a sense of how that territory has held up in the face of massive change occurring in China proper.
Existing attempts to measure economic freedom have long been imperfect blurring various definitions of freedom, using subjective rather than objective measures, and either failing to account for economic freedom or focusing exclusively on it. That helps explain the rationale behind the Fraser Institutes new book, Towards a Worldwide Index of Human Freedom.