Comparing Economic Freedom

In our world, there is extraordinary disparity in the degree of economic freedom.  While some countries, like Australia, Ireland, and the United States have very high economic freedom, others are widely classified as repressed.  Here's a world breakdown of economic equality:

If we measure economic freedom versus economic productivity, we can see the benefits of creating a free-market economy:

These two graphics, with a bit of extra information, can provide us with a few lessons.  First of all, the greatest growth in economic freedom has been occurring in emerging markets, which bodes well for these countries trying to grow.  China and India, also, have in fact gained on the scale in economic freedom.  Latin America has seen small improvement too.

The obvious takeaway is that the more restrictions a country puts on businesses, consumers, and investors, the more they will struggle financially.  While some regulation can be good, to much restriction clearly limits growth.

Another takeaway concerns the Middle East.  Many of the Middle Eastern and African countries are solidly in red or orange.  These closed societies are not only breeding grounds for terrorism and intolerance, but they also offer little economic opportunity to their citizens.  This is especially dangerous, for oppressive societies in poverty are likely to stay oppressive, and young people trying to avoid terrorist organizations will have little options and opportunity