Estonia Outstrips US in Economic Freedom Index for First Time (2)

Although close in 2003, Estonia (red) now topped the US (green) for the first time in overall economic freedom on the strength of areas such as private property rights and government spending. Heritage Foundation, screenshot
1/15/2014 12:56 PM
Category: Economy

Estonia has risen two places in the Index of Economic Freedom compiled each year by the Heritage Foundation think tank and the Wall Street Journal.

In rising from 13th to 11th, Estonia nipped the US, which meanwhile fell from 10th to 12th. It was the first time in 20 years the US was not in the top 10, and Estonia's gains came partly in the same areas in which the US declined.

"[Estonia's] overall score is 0.6 point higher than last year, with improvements in property rights and trade freedom offsetting a small combined decline in business freedom and the management of public spending. Estonia is ranked 4th out of 43 countries in the Europe region and its overall score is well above the regional and world averages," said the report.

In Europe, only Switzerland, Ireland and Denmark received a higher score than did Estonia.

The US dropped due to "deteriorations in property rights, fiscal freedom and business freedom," the authors said.

Estonia's all-time high was 8th, and one of the authors of the report, Bryan Riley, told ERR Radio that Estonia is "certainly knocking on the door" of the top 10 once again. Riley said: "Hopefully the US can also look to Estonia and see what policies have worked and learn from them - such as regulation of private property, where we in the US have been moving in the opposite direction."

In the 2014 Index of Economic Freedom, only the top six - Hong Kong, Singapore, Australia, Switzerland, New Zealand and Canada - classified as "free."

Starting with 7th place Chile, the next 28 countries occupied the "Mostly Free" bracket.

 

 


The name field cannot be empty
No more than 50 characters
Comment field cannot be empty
No more than 50 characters
Comment field cannot be empty
No more than 1024 characters
{{error}}

Message forwarded to the editor

This Ip-address has limited access

See also

There are no comments yet. Be the first!

Reply to comment

+{{childComment.ReplyToName}}:
Reply to comment
Reply

Laadi juurde ({{take2}})
The name field cannot be empty
No more than 50 characters
Comment field cannot be empty
No more than 1024 characters
{{error}}
Add new comment