American Elephants


America in Decline. Thanks a Bunch, Obama! by The Elephant's Child


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America, Land of the Free, Home of the Brave, right?  America is no longer the home of a free economy. We now rank internationally 17th in economic freedom — a truly shameful situation. The United States should have the freest economy in the world, and constantly be encouraging other nations to catch up.

In 2013, the United Arab Emirates, Mauritius and Bahrain are judged to have freer economies. Also Hong Kong, Singapore, and New Zealand. “The Economic Freedom of the World: 2013 Annual Report,” a joint effort of the Cato and Frazer institutes, even judges Chile, Jordan and Estonia to have freer economies.

What happened? The explanation rests on a government than cannot resist its urge to expand. America has fallen in every area that the report measures. In size of government, it is ranked 59th out of 152 countries. Our property rights and legal system  rank 30th, and our freedom to trade internationally is 43rd.

Now the U.S. has become a true regulatory state, ranking 121st in credit market regulation and 33rd in business regulations. And Obama can’t find any regulations to get rid of, except the same old spilled milk one.

Economies that are less free have universal poor performance. The more free a country’s economy, the more prosperous her people. The less free, the more miserable. That old “pursuit of happiness” thing —nevermind.

ISSfree_130923.png.cmsAt the bottom are nations like Venezuela, Myanmar, Republic of Congo, Zimbabwe and Chad, countries that are clearly wretched places to live.

Economic freedom makes people richer, but also happier. In spite of the clear advantages of an open economy and freedom, the United States is moving in the wrong direction. We have an administration in the White House and its allies in Congress who clearly want greater government control of the economy. You can question whether they believe that an administrative state is a preferred form of government, or if they just think they’re smarter than the rest of us, and it’s an exercise in hubris.

Hope and Change isn’t what it was cracked-up to be.

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