What’s the best way to turn a poor nation into a rich nation? Richard W. Rahn asks this rhetorical question. Is it:
(A) Insist the world’s rich nations transfer substantial wealth though massive foreign aid to the poor nations?
(B) Insist all nations adopt policies that would make them as economically free as the top 10 freest economies today?
We sexist, racist, classist, homophobic conservatives know the answer to that. The answer is (B).
Which are the 10 freest economies today? Here’s the answer from the Heritage Foundation’s executive summary.
1. Hong Kong
2. Singapore
3. Ireland
4. Luxembourg
5. Iceland
5. United Kingdom
7. Estonia
8. Denmark
9. Australia
9. New Zealand
9. United States
Interesting isn’t it? The big surprise is Ireland, which fifteen years ago suddenly deregulated its economy and scaled back government spending, becoming within five years a celtic tiger, so that its per capita income is now higher than the United Kingdom. And don’t forget Estonia. They call it e-tonia now, with its flat tax and its burgeoning high tech economy.
I don’t know about you. But I think that the position of the United States down at No. 9 with Australia and New Zealand is shameful.
Come on President Bush. Come on Republican Congress. Come on conservative activists. Let’s do something about this!
We’re No. 1. Aren’t we?
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