Country rankings for trade, business, fiscal, monetary, financial, labor and investment freedoms

Country rankings for trade, business, fiscal, monetary, financial, labor and investment freedoms

April 6, 2010 Heritage Foundation: U.S. not free Top Ten of 2010 Your search included the following criteria: YEAR: 2010 Index of Economic Freedom World Rankings world rank country year overall score change from previous business freedom trade freedom fiscal freedom government size monetary freedom investment freedom financial freedom property rights freedom from corruption labor freedom 1 Hong Kong 2010 89.7 -0.3 98.7 90 93 93.7 83.1 90 90 90 81 87.4 2 Singapore 2010 86.1 -1 98.2 90 90.7 95.3 80.9 75 50 90 92 98.9 3 Australia 2010 82.6 0 90.3 85.1 61.4 64.9 82.7 80 90 90 87 94.9 4 New Zealand 2010 82.1 0.1 99.9 86 63.6 51.3 83.1 80 80 95 93 88.8 5 Ireland 2010 81.3 -0.9 92.8 87.5 71.1 61.8 79 95 80 90 77 79 6 Switzerland 2010 81.1 1.7 81.2 90 68.2 68.9 81.3 80 80 90 90 81.8 7 Canada 2010 80.4 -0.1 96.5 88.1 76.7 54.1 75.4 75 80 90 87 81.5 8 United States 2010 78 -2.7 91.3 86.9 67.5 58 78.1 75 70 85 73 94.8 9 Denmark 2010 77.9 -1.7 97.9 87.5 35.9 22 79.3 90 90 90 93 93.7 10 Chile 2010 77.2 -1.1 64.8 88 77.5 89.6 73 80 70 85 69 75.4

The United States’ economic freedom score is 78.0, making its economy the 8th freest in the 2010 Index. Its score is 2.7 points lower than last year, reflecting notable decreases in financial freedom, monetary freedom, and property rights. The United States has fallen to 2nd place out of three countries in the North America region.

The U.S. government’s interventionist responses to the financial and economic crisis that began in 2008 have significantly undermined economic freedom and long-term prospects for economic growth. Economic freedom has declined in seven of the 10 categories measured in the Index.

Uncertainties caused by ongoing regulatory changes and politically influenced stimulus spending have discouraged entrepreneurship and job creation, slowing recovery. Leadership in free trade has been undercut by “Buy American” provisions in stimulus legislation and failure to pursue previously agreed free trade agreements with Panama, Colombia, and South Korea. Tax rates are increasingly uncompetitive, and massive stimulus spending is creating unprecedented deficits. Bailouts of financial and automotive firms have generated concerns about property rights.