Economic Freedom

Swerving Off the Path to Prosperity

Townhall | by Ed Feulner | Jan. 26, 2010

When future historians characterize this era, chances are they won’t label it as America’s “golden age.” Indeed, they may well mark 2010 as the year the United States became the home of the “mostly free.”

That’s the finding of the latest “Index of Economic Freedom,” an annual compendium published by The Heritage Foundation and The Wall Street Journal.

The U.S. earned an overall score of 78 out of a possible 100 points in the Index. That was good enough for eighth place, globally. But that score was down 2.7 points from last year’s. It’s the biggest drop recorded among the world’s 20 largest economies. The decline was comparable to Venezuela’s (down 2.8) and Yemen’s (down 2.5), two poster children for bad economic behavior. [Read more…]

A Primer on Capitalism

Capitalism Freedom Private Propertyby Chris Banescu –
In today’s turbulent financial times and difficult economic conditions, a lot of unjustified criticism and unwarranted accusations have been laid at the doorstep of capitalism. Many in the mainstream press and academia, a majority of politicians, and a large number of Americans have jumped on the bandwagon and unfairly blame capitalistic principles for the huge mess that we are in. Such widespread confusion evidences a misunderstanding by many Americans of how value is actually created in society and what capitalism really represents.

All societies, in order to prosper, grow, and take care of its citizens must create new value to sustain its economy and support an expanding population. Common sense and experience dictate that there are only three (3) possible ways for anyone in life to have, create, or obtain value (monetary or economic) or acquire any assets (property) to be able to live or sustain oneself or one’s family: [Read more…]