Where we now enjoy less economic freedom than both Britain and Canada.
This is according to a Fraser Institute study released last month. The institute’s news release says it all: Canada more economically free than the United States but levels of economic freedom decline worldwide. A sample:
“In response to the American and European debt crises, governments around the world are embracing perverse regulations and this has huge, negative implications for economic freedom and financial recovery.”
The United States experienced one of the largest drops in economic freedom, falling to 10th place overall from sixth in 2010. Much of this decline is a result of higher spending and borrowing on the part of the U.S. government, and lower scores for legal structure and property rights.