September 26, 2022

Brighton Journal

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World Index of Economic Freedom: Best- and Worst-Situated Countries and Two Latin American Countries in Most Worrying Cases

Company Fraser comprehensive Index of Economic Freedom In this world. A report published in Economic freedom of the world Measures the extent to which countries’ policies and institutions support economic freedom.

The cornerstones of economic freedom are individual choice, voluntary exchange, freedom to enter and compete in markets, and protection of individual and private property. Forty-two items were used to create a summary index, adjusted for gender legal rights, to measure the extent to which women have the same level of economic independence as men.

The degree of economic freedom is measured in five broad areas: Size of government, legal system and property rights, money, international trade freedom and regulation.

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Government size: Increased public expenditure, taxes and government controlled enterprises are taken into account. Individual choice is replaced by government decision-making and economic freedom is curtailed.

Legal system and property rights: The protection of people and their legally acquired property is a central element in both economic freedom and civil society. In fact, it is the most important function of government.

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Money: Inflation reduces the value of legally earned wages and savings. So money is essential to protect property rights. When inflation is not only high but also volatile, it becomes difficult for people to plan ahead and exercise economic freedom effectively.

Freedom of international trade: Freedom of exchange, in its broadest sense, to buy, sell, conclude contracts etc. is essential to economic freedom, freedom of exchange is reduced when it does not include companies and individuals in other countries.

Regulation: Governments not only use many tools to limit the right to trade internationally, but they can also impose strict restrictions that restrict the right to trade, borrow, hire or employ whoever you want, or run your business freely.

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Economic Freedom in the World in 2020

Hong Kong continues to be number oneAlthough his rating dropped by an additional 0.28 points. Singapore, again in second place. Following are the top scoring countries Switzerland, New Zealand, Denmark, Australia, USA, Estonia, Mauritius and Ireland.

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In terms of countries in the region, two of the 10 worst countries in the ranking are: Argentina ranks 161 out of 165 Y Last Venezuela (165). Last placed finishers in the table Democratic Republic of Congo, Algeria, Republic of Congo, Iran, Libya, Syria, Zimbabwe and Sudan.

The ranking of some other important countries is as follows: Japan (12th), Canada (14th), Germany (25th), Italy (44th), France (54th), Mexico (64th), India (89th), Russia (94th), Brazil (114th). ), China (116)

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as South American countriesIt is in excellent condition Chili, which is ranked 33rd in the world. Second in the region Peru (37) and the third Uruguay (68) They continue Paraguay (78), Colombia (99), Ecuador (106), Brazil (114), Bolivia (123), Argentina (161) and Venezuela (165) Meanwhile, for Central America, Nicaragua is at 82nd position.

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Finally, in Asia There are many countries that are well placed in the rankings. Top of the list Hong Kong; Further Singapore (second), New Zealand (Fourth) and Australia (Sixth).

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