Posts tagged with: Comparative economic systems

business religionThe Religious Freedom & Business Foundation has issued a global study that links religious freedom to economic growth. Researchers say that religious freedom has been a previously “unrecognized asset to economic recovery and growth,” and that religion contributes heavily to peace and stability, both of which are necessary to economic stability.

Mark A. Kellner breaks down the study’s findings:

According to the RFBF [Religious Freedom & Business Foundation], the study looked at GDP growth for 173 countries in 2011 and found religious freedom correlated with lower corruption. Moreover, “when religious groups operate in a free and competitive environment, religion can play a measurable role in the human and social development of countries.”

The authors analyzed 2011 GDP data and compared with data on religious restrictions, the level of economic and business freedom in a given country, and “measures of government regulation, taxes, labor issues, demographics and economic circumstances.”

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Blog author: mbrandenburg
posted by on Tuesday, December 11, 2012

On Nov. 28, the Canada-based Fraser Institute released the eighth edition of its annual report, Economic Freedom of North America 2012, in which the respective economic situation and government regulatory factors present in the states and provinces of North America were gauged.

Global studies of economic freedom, such as the Heritage Foundation’s 2012 Index of Economic Freedom and the Fraser Institute’s Economic Freedom of the World 2012, rank the United States and Canada as two of the most economically free countries in the world. But, as data from the North America report shows, not all sections of the countries are experiencing an equal level of economic freedom and it is important to look at areas in which this falters.

States and provinces were evaluated and ranked within three categories: 1) Size of Government; 2) Takings and Discriminatory Taxation; and 3) Labor Market Freedom. The Canadian province, Alberta, claimed the top spot as most economically free, followed closely by Delaware. New Mexico placed 59th, making it the least economically free state, followed by Prince Edward Island of Canada, notching the rank of least economically free area in North America (between the United States and Canada).

The Economic Freedom of North America 2012 report draws a clear link between prosperity and economic freedom, through a comparison of states and provinces. “In the United States, the relatively free Georgia does much better than the relatively unfree West Virginia. In Canada, British Columbia, where economic freedom has been increasing in recent years, has been experiencing considerably greater growth on a per-capita basis than Ontario, where economic freedom has been decreasing in recent years.” (more…)