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Advancing Economic Freedom: Leading from Behind Doesn’t Work

Posted By Anthony B. Kim On March 7, 2013 @ 2:00 pm In Economics | Comments Disabled

[1]

The 2013 Index of Economic Freedom

Advancing economic freedom around the world has markedly stagnated in recent years, particularly due to the lack of America’s leadership, says Terry Miller, chief editor of The Heritage Foundation’s Index of Economic Freedom [2], in a recent interview [3] with the Langley Intelligence Group Network.

According to Miller:

Historically, the United States has been the leader of the push for economic freedom around the world. That’s not the case anymore. We’ve got a situation right now where the Administration is dedicated, in its own words, to leading from behind. That doesn’t work in economic freedom. We can’t afford, the world can’t afford, a United States that is trying to protect its industries from competition, trying to isolate us from the world economy. We need an Administration that’s forward looking, that’s open and outward looking, and that helps us engage with the rest of the world. We need to be promoting economic freedom in all its facets—limited government, free trade and investment flows. We need to be promoting the rule of law around the world…. [Regrettably], that’s not happening right now, and the world is suffering as a result.

Indeed, it is no exaggeration to blame the recent slowdown in economic liberalization around the globe on the lack of U.S. leadership. As the 2013 Index of Economic Freedom [2] documents, the U.S. remains only a “mostly free” economy. With declining scores six years in a row, America’s economic freedom is at its lowest level since 2000.

Vibrant entrepreneurial growth has been stymied by ever more intrusive government regulations and mounting debt [4]. And, a disturbing trend toward cronyism has gravely eroded the rule of law and distorted our free-market system.

As a key pillar of our foreign policy, promoting economic freedom at home and abroad is indispensable to revitalizing and brightening America’s future. Now is the time to reaffirm the conservative principles [5] of limited government, free enterprise, and rule of law, and to reinforce our traditional commitment to freedom and opportunity.


Article printed from The Foundry: Conservative Policy News from The Heritage Foundation: http://blog.heritage.org

URL to article: http://blog.heritage.org/2013/03/07/advancing-economic-freedom-leading-from-behind-doesnt-work/

URLs in this post:

[1] Image: http://blog.heritage.org/wp-content/uploads/2013Index_130307.jpg

[2] Index of Economic Freedom: http://www.heritage.org/index

[3] interview: http://www.lignet.com/ArticleAnalysis/Ambassador-Terry-Miller--Trouble-for-Global-Econom?s=al&promo_code=E8D5-1

[4] mounting debt: http://blog.heritage.org/2013/02/27/americas-double-jeopardy-surging-debt-and-waning-economic-freedom/

[5] the conservative principles: http://opportunity.heritage.org/

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