Economic Freedom

An international group of think tanks from 35 nations and territories from around the world has penned an open letter condemning the actions of the Communist Party of China and supporting the people of Hong Kong. On Tuesday, China’s National People’s Congress passed its controversial national security law, which violates Hong Kong’s Basic Law and encroaches on the city’s freedoms and liberties. The letter, which details Hong Kong’s success since the Second World War in becoming one of the most prosperous, entrepreneurial, and freest places on earth, is signed by 37 member organizations of the Economic Freedom of the World Network, which is led by Canada’s Fraser Institute.

The Human Freedom Index, 2019 finds that New Zealand is again the freest country in the world, followed by Switzerland and Hong Kong. Canada ranks 4th globally, and the United States ranks 15th in this year’s report. The index ranks 162 countries and jurisdictions based on 76 indicators of personal, civil and economic freedoms and is a joint project with the Cato Institute in the U.S. and Germany’s Friedrich Naumann Foundation for Freedom.

Economic Freedom of North America 2019 finds that New Hampshire has reclaimed its status as the most economically free state in the U.S., having scored 7.93 out of 10 in this year’s report, which measures government spending, taxation and labour market restrictions. Rounding out the top five freest states are Florida (2^nd), Tennessee (3^rd), Virginia (4^th) and Texas (5^th). For the fifth year in a row, New York was ranked the least free (50^th), followed by West Virginia (49^th), Alaska (48^th), Vermont (47^th) and Oregon (46^th).