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  • Economic Freedom Matters!

    Richard Florida, who is the author of “The Rise of Creative Class,” posed the following vital questions in his recent article “Free, Tolerant, and Happy” in The Atlantic:

    To what extent is economic freedom associated with tolerance and happiness? Are freer nations also more tolerant? Are their residents happier than those of other nations? To what extent is economic freedom also associated with other factors like affluence and material well?being, the level of human capital, and the transition to postindustrial economic structures? And what is the relationship between freedom and economic inequality?”

    In answering these questions, Mr. Florida deftly employed the Heritage Foundation’s Index of Economic Freedom, a data-driven analytical tool for a wide range of audiences including policy makers and investors. Illustrating statistically important relationships between economic freedom and other key independent variables such as competitiveness, tolerance, and life satisfaction, Mr. Florida pointed out:

    Perhaps the most interesting finding to emerge from our analysis concerns the relationship between economic freedom and inequality. The relationship is often seen in terms of a trade-off. The ability to pursue one’s economic dreams unencumbered by social or institutional restraint is seen as conditioning higher levels of inequality. But that’s not what we found. In fact, our analysis indicates that the relationship between economic freedom and income inequality is negative. That is, freer countries are on balance more equal. Many of the countries with the highest levels of economic freedom also have the highest levels of economic equality… Freer, happier societies reflect the old adage of a rising tide that lifts all boats. That’s something Americans should keep in mind as the nation grapples with how best to generate economic growth, create jobs, and deal with rising social and economic inequality in the ongoing era of the Great Reset.”

    Indeed, it is time to restore our economic freedom that will rejuvenate America’s future.

    Posted in Economics [slideshow_deploy]

    5 Responses to Economic Freedom Matters!

    1. Pingback: » Financial News Update – 04/20/10 NoisyRoom.net: Fighting for the Consititution

    2. Billie says:

      Mr Kim, could you please explain with detail and specifics what is meant by: "deal with rising social and economic inequality in the ongoing era of the Great Reset.”

    3. Dennis Social Circle says:

      Each person in this country has the chance to be sucessful, they just have to have the desire to try. The "guvmnet" has seen to it that people do not need to be sucessful, they just need to wait on the hand out from us the tax payer.

      This crap that obama and the dems spout is just BS in its purest form, spread the wealth is taking from those that have tried to be sucessful and make a positive mark on society. What will happen when those that have worked hard give up and just depend on the "guvment".? We all will be hungry and naked in the cold.

      Freedom to be sucessful and provide to you greatest ability for your family matters to all. VOTE IN NOVEMBER 2010!!!

    4. Zack says:

      Everyone has been working hard. The problem is this idea that free market is perfect and the government in somehow the only problem. Conservatives have too much faith in profit driven monoplies, not me. This recession is a free-market failure and don't you conservatives ever forget that. The best part is that you guys actually think that you will regain congressional control in november…are you kidding? Seriously, are you kidding?

    5. Bill Springfield Ohi says:

      Ignorence abounds, this recession is most absolutely not a free market failure, but the result of government interference in the free market, such as forcing banks to give loans to unqualifed buyers and so forth.

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