Thursday, February 19, 2009

Don't ignore the data: key requirements for growth and prosperity

This 6 minute video from the Cato institute is a brief introduction to the the key requirements for economic prosperity: property rights, rule of law and sound money. It references several important works which compare the economic laws and policies of various governments to growth and prosperity indicators. These works include Economic Freedom of the World, the Index of Economic Freedom and the Global Competitiveness Report. The current administration is instituting policies which go exactly counter to the data presented in these reports. Those who believe that enlarging government's role in the economy will reverse the recent down turn and bring us growth and prosperity need to be aware of the data which clearly counters that conclusion.

This is a dangerous time to be economically ignorant. We are loosing not only the path to prosperity, but key aspects of our freedom as well.

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