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The index published in
Economic Freedom of the World
measures the degree to which the policies and institutions of
countries are supportive of economic freedom. The
cornerstones of economic freedom are personal choice, voluntary
exchange, freedom to compete, and security of privately owned
property. Forty-two variables are used to construct a summary
index and to measure the degree of economic freedom in five
broad areas: (1) size of government; (2) legal structure and
security of property rights; (3) access to sound money; (4)
freedom to trade internationally; and (5) regulation of credit,
labor and business.
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