Although Hugo Chavez just died last week in Caracas, economic freedom predeceased him in Venezuela by at least a decade. When Chavez took power in 1999, the Venezuelan economy was rated at 54 points out of 100, according to The Heritage Foundation/Wall Street Journal’s annual Index of Economic Freedom. This …
The latest trade deficit figures are out, and, as always, most reports fail to accurately explain what these numbers mean. Consider the following widely reported statement: A narrower trade gap boosts growth because it means U.S. companies are earning more from overseas sales while U.S. consumers and businesses are spending …
As some Venezuelans mourn the death of populist President Hugo Chávez, their northern neighbors in the Caribbean Basin shouldn’t shed a tear. In 2005, members of the Caribbean Community (CARICOM) sold out on free markets for the price of Chávez’s oil diplomacy by signing up for PetroCaribe, a financing agreement …
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, in a recent interview with the Langley Intelligence Group Network. According to Miller: Historically, the United States …
Senator Max Baucus (D–MT), chairman of Senate Finance Committee, urged strong and unrelenting political leadership in pursuing a comprehensive free trade pact between the U.S. and the European Union. He highlighted the importance of choosing an effective and experienced leader as America’s next trade czar in his recent Financial Times …
The recently reelected president of Ecuador, Rafael Correa, wants people to know he is determined to fight inflation through combating “speculation.” A noble goal, to be sure. But the weapons chosen for that battle by President Correa—a PhD economist trained at the University of Illinois—actually will doom his anti-inflation campaign. …
A new study on public debt presented at the recent University of Chicago Booth School of Business monetary policy forum in New York has highlighted “tipping point dynamics” that can occur to countries with high debt loads. The study entitled, Crunch Time: Fiscal Crises and the Role of Monetary Policy, …
Republic of Kosovo’s Prime Minister Hashim Thaci, in his February 17 speech commemorating the 5th anniversary of the country’s independence, expressed pride in his country’s visible accomplishments, but noted appropriately his awareness that “we need to do much more.” Indeed. Despite notable reforms since independence, the foundations of economic freedom …
Heritage Foundation President Dr. Edwin Feulner is in South Korea on Monday attending the inauguration of Park Geun-hye as that nation’s new president and successor to Lee Myung-bak. Feulner has remained a stalwart advocate for Korea-U.S. relations for more than 40 years, and in that time has met with every …
In a globally competitive world, competition is key. Fundamental for competition is the rule of law, according to Myron Brilliant, Senior Vice President for International Affairs of the U.S. Chamber of Commerce, who spoke at a recent Heritage Foundation event. In his remarks, which elaborated on a chapter he contributed …
