Tag Archives: economic prosperity

Economic Freedom of the World Report 2013 Annual Report

Recently the Fraser Institute in Canada published the Economic Freedom Report of 2013. This report states that only in an economically free country can there be prosperity. The report also provides statistics that demonstrate that in the United States both property rights (3oth in the world) and economic prosperity have fallen (19th in the World). The Fraser Institute went even further by stating the following…

Security of property rights, protected by the rule of law, provides the foundation for both economic freedom and the efficient operation of markets. Freedom to exchange, for example, is meaningless if individuals do not have secure rights to property, including the fruits of their labor. When individuals and businesses lack confidence that contracts will be enforced and the fruits of their productive efforts protected, their incentive to engage in productive activity is eroded. Perhaps more than any other area, this area is essential for the efficient allocation of resources. Countries with major deficiencies in this area are unlikely to prosper regardless of their policies in the other four areas.

This report contains a wealth of information that will be extremely valuable if you are attempting to convince officials that it is crucial that we guard our private property rights. While it is unlikely that you would read all of the report, as it is are very extensive, if you only read the beginning of Chapter 1 of the Fraser Institute Report you will learn valuable information. Access this report by clicking on this link. For a short article about this report follow this link.