What do Switzerland, the United Arab Emirates and Canada have in common? Their citizens all enjoy more economic freedom than Americans.
According to the 2015 Economic Freedom of the World Index, the United States ranks 16th, down from a rank of 2 in 2000. Americans are losing their economic freedoms while the rest of the world is becoming more free.
The Economic Freedom of the World Index measures economic freedom by analyzing five areas: size of government, legal structure and property rights, access to sound money, free trade, and regulation. The U.S. scored the lowest in the size of government and protection of property rights categories.
Economic freedom is more than an academic concept; it's critical for prosperity. Economic freedom is positively associated with higher average per-capita GDP, longer life spans, higher incomes for the poor and more civil liberties.