Scott Rasmussen's Number of the Day for October 25, 2017
The Number of the Day columns published on Ballotpedia reflect the views of the author.
October 25, 2017: A new study by the Cato Institute finds that 10 countries have more economic freedom than the United States: Hong Kong, Singapore, New Zealand, Switzerland, Ireland, the United Kingdom, Mauritius, Georgia, Australia, and Estonia. Canada is tied with the U.S. for number 11 on the Cato list.[1][2]
In 1980, the U.S. ranked number 2 on Cato’s Global Economic Index. The nation slipped to number 3 in 1990, number 4 in 2000, and number 6 in 2005. The U.S. continued to drop in Cato's rankings, hitting 11th in 2010 and 13th in 2014.
According to Cato, "Economic freedom is based on the concept of self ownership. Because of this self ownership, individuals have a right to choose—to decide how to use their time and talents to shape their lives. On the other hand, they do not have a right to the time, talents, and resources of others. Thus, they have no right to take things from others or demand that others provide things for them."
To measure this freedom, Cato evaluates a number of features including the size of government, legal system and property rights, sound money, freedom to trade internationally, and regulation of credit, labor, and business.
The institute adds that "the cornerstones of economic freedom are personal choice, voluntary exchange, open markets, and clearly defined and enforced property rights."
Each weekday, Scott Rasmussen’s Number of the Day explores interesting and newsworthy topics at the intersection of culture, politics, and technology.
- October 24, 2017 – 43.7 million immigrants live in United States today
- October 23, 2017 – 28 percent of American adults use same password for most or all online accounts
- October 20, 2017 – 150 years ago this weekend, former slaves voted in Virginia
- October 19, 2017 – 17 percent of federal workers are under 35 years old
- October 18, 2017 – $131 billion in corporate tax expenditures
- To see other recent numbers, check out the archive.
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Columns published on Ballotpedia reflect the views of the author.
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