Economic Freedom and Regulation

Here is a little score card that reveals the condition of the regulatory structures for the U.S., Greece, and Spain in relation to the 141 countries measured in the 2011 Economic Freedom of the World Report, produced by the Fraser Institute:

Country Overall Economic Freedom ranking Regulation Credit Market Regulation Labor Market Regulation Business Regulation
United States 10 27 116 5 27
Greece 81 129 132 128 87
Spain 54 101 70 118 81

The US has fallen from an overall ranking of 2nd place just a few years ago, helped in part by the ranking of 116th worst in the area of Credit Market Regulations.

The North American report puts Missouri in the middle of the pack: 28th of 60 (U.S. states and Canadian provinces). That is roughly the 47th percentile. The 47th percentile on the World report would make us competitive with Namibia or just one point better than Haiti. Missouri political football fans should congregate under the Capitol dome and demonstrate their disgust in unison by shouting: “We are number 28 – we are number 28”.

Note 1: The report measures a total of five areas: 1) Size of government, 2) Legal system & property rights, 3) Sound Money, 4) Freedom to trade internationally & 5) Regulation


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