What’s So Great About Economic Freedom? – Learn Liberty

Economic freedom is about, yes, the freedom
to buy and sell stuff, but it’s also about the freedom to interact with people, to converse
with people, to travel where we want, to say the things we want to say. These things [that]
involve interaction with others are truly at the core of economic freedom. There’s a tremendous body of evidence that
suggests that economic freedom is associated with many of the things we think of when we
think of a healthy society. We can look at the Economic Freedom of North America Index.
States with more economic freedom have higher growth rates of the economy, they have lower
unemployment rates, they have less debt per GDP than states that are less free. All of these things we associate with economic
health are also associated with economic freedom, but we see the same phenomenon when we compare
countries of the world. The most economically free countries have GDPs per capita that are
about 10 times the size of less economically free countries. One might argue that what we’re seeing is
the big country effect. That is, big countries will tend to be economically free, and they’ll
also tend to have high GDP per capita. But if we restrict our vision to just the poorest
20 percent of countries, the poor countries that have the most economic freedom have GDP
per capita that are 50 percent greater than the poor countries that have less economic
freedom. One counterargument is that GDP per capita
only measures average income. It’s possible that you could have a country with a small
number of elite, rich people and a large number of destitute people. But if we examine inequality
measures, what we find is that the countries that are more economically free also have
more equitable income distributions. That is, economic freedom is not only associated
with higher income levels on average, but it’s also associated with a more equitable
income distribution. Skeptics might argue that economic freedom
achieves greater income because of exploitation, exploitation of people and exploitation of
the environment. Let’s look at the data and see if this is the case. On average, women
in economically free countries have more gender equality than women in economically less-free
countries. Also, child-labor rates tend to be lower in economically free countries and
higher in economically unfree countries. One might argue that child-labor rates are
lower in economically free countries because economically free countries are richer and
therefore can import products from poor countries that do not have child-labor laws. In effect,
the rich countries encourage the poor countries to exploit their children so the rich countries
don’t have to exploit theirs. But if we look at the poorest countries, we
see the same phenomenon. Even amongst the poorest countries, those with more economic
freedom have lower child-labor rates than those with less economic freedom. Economic freedom also accompanies reduced
exploitation of the environment. For example, deforestation is worst amongst the least economically
free countries. Meanwhile the most economically free countries actually experience reforestation:
Their forests are growing. Economic freedom is about the freedom to act.
The more freedom we have to act, the more able we are to do the things we want to do:
to create wealth, to protect the environment, to help people be equal across genders, to
help children no longer have to work in factories. It’s about being free to make your own choices
and to live with the consequences of those choices, provided that you do not violate
anyone else’s freedom. The more economic freedom we have, the more able we are to make
the world a better place.

100 thoughts on “What’s So Great About Economic Freedom? – Learn Liberty

  • Yes I do. Try to travel to North Korea. It is a political problem, not an ecnomical.
    "To say what you want to say" is linked to economic freedom? No it is not. It is the freedom of speech and a part of a democratic process. To think nearly everything is determined by economic freedom is bullshit. But who am I to talk with economic freedom religous thinkers.
    By the way the US is bankrupt and turning into a police state. Have fun with your economic freedom….???

  • No focus on whatever you want to. But the explanation that the freedom of speech is given by economic freedom is far out. I think your base thinking of freedom in the view of economic freedom is false. And maybe the focus on economic freedom is not the prefreable one.

  • the person in the video says: economic freedom is about to say what you want to say. That ist in my understanding freedom of speech. Okay i do not know what your base of thinking is. Sorry my mistake.
    Nice the title in the vid says: What is so great of economic freedom. Sounds familiar to the school task in "thank your for smoking": Why is america the best country of the world….;-)

  • Actually there is no economic freedom OR political freedom in North Korea and this is because they have tried to create a communist society, ie a society with no economic freedom.

    Economic and Political freedom are essentially the same thing. To a certain extent you can't have one without the other, however you CAN have economic freedom without total political freedom (just ask China). Economic freedom comes first, growing wealth makes political freedom essential for an ordered society.

  • Economic and Political freedom are essentially NOT the same. Both can go hand in hand, yes. But why comes economic freedom first? Makes no sense to me. You have written total political freedom. Why total? I guess I do not get, what you mean by this economic freedom. But the idealization sounds unrealistic.

  • I think there are some flaws in the video concerning semantics, but you won't have social or political freedom without economic freedom. You can't even take a bus or drive a car without taking economics into consideration. You can't even take a shower or flush the toilet. Nearly everything requires resource management. It would be very difficult to promote any political idea freely with 0 economic freedom.

  • Yeah right, everything is connected to ressource management. And you need some economic freedom. But to what degree. What is helpful economic freedom and what is destructive. There is no 100% and 0% solution. By the way to nothing. Actually it depends and what you interpreting in economic freedom accurate defintion the discussion leads to nothing then misunderstandings. It is like free markets. What is a free market and what part of it is good and what leads to moral hazard.

  • Destructive economic freedom is when big businesses get more than their fair share of it because they get tax loop holes and subsidies from governments. They even get special laws to crush their competition. All federal laws should be made to effect everyone. State and local can deal with specifics. When you get these special rules for certain people or groups you open the door for all kinds of inequality.

  • Everyone pays a flat rate of 35%. Everyone gets a tax rebate of $10,000. There are no entitlements, subsidies, or other federal taxes. (you can play with the numbers a bit, its just an example) The remainder can pay for a few programs like the military and a few regulatory agencies. The only law is that you cannot harm other people or their property. Courts would have to work to define harms. Again, state and local governments could have more specific laws.

  • That's the general idea. Of course certain laws pertaining to water rights, environment, etc would have to be worked out. As well a certain laws to protect children. But I think 99% of law can all fall under properties rights, especially when you consider each person has the property ownership of their own body. I think the system needs to be simple so that everyone understands what is going on, but versatile enough to apply to a board range of issues.

  • utter nonesense its capitalist blockade
    economic terrorism open free trade with north korea and see their economy grow by 50 plus percent year after year

  • Economic freedom? You are free to be poor! Economic freedom dose not give a sh*t about people that can't, don't know how or don't want to earn more. What is good for the economy is not necessary good for you. And GDP dose not say much.

  • Actually GDP per capita says a lot. Countries with higher GDP per capita have less poverty, lower infant mortality, better education and fewer murders.

    If economic freedom means the freedom to be poor, why is there less poverty in countries with more economic freedom.

  • Less is not good enough. They still have poverty. And it is not 100% in some countries there is higher GDP and higher poverty. And poverty is very subjective thing, in some countries if you have food to eat every day you are not in poverty, in some poverty line is very high. If you thing statistics say it all, then we don't need to talk any more, you got it all wrong.

  • So if we can't get rid of poverty in one move, we should just reject the things that reduce poverty? How can you be against something that reduces poverty?!?!

    I don't think the statistics show everything, but they are a good indicator. Why talk bad about economic freedom when you have no proof that it causes poverty or other problems?

  • Did cause a lot of problems. Lived in 4 countries, from the richest to the poorest. Lived in communist state, in monarchy and democracy. Very free economy and not free at all. Conclusion, everything have good side and bad side. I don't think that free economy will be the best way to go.

  • Your personal experience from four countries is not a valid sample. It does not prove that there is any moral reason to not allow people economic freedom. If you can't prove that economic freedom causes anything bad, then those who want economic freedom should be allowed it without the government using violence against them. Innocent until proven guilty. We are innocent.

  • You mean that USA government will not force countries in to free market any more? And UK and other western countries will not help them? I don't believe in this. Free market as it is now in USA and west Europe need constant expansion otherwise the economy is going in depression and financial crisis. Sorry but free market have done enough bad in the past!

  • USA is not a free market, it is corporatism. A free market does not need constant expansion. If everybody is satisfied with what they have at the moment they will be free to maintain that lifestyle instead of expanding.

    The depression is due to a lack of freedom in financial markets and the fact that we have central banks who have a monopoly on money.

    I can assure the situation is much worse in countries with less economic freedom. So why fight economic freedom?

  • This is my last reply. I just say my opinion did not want to argue about it. I agree that with a lot of changes we may get to economy freedom that work. I'm not fighting against it, but I think that many people that want economy freedom want to get some restriction off so they can make more for them self and if you free the market immediately it will go into chaos. I hope people find the right way to do it. Thank you for the civilized conversation.

  • No, people naturally want to increase their wealth. There is no such thing as "I have enough money" for 99.9% of the people.

  • I agree. There's so much more wealth to be created. If people want to create wealth, then they should be allowed to do it. But those who want to remain at their current level of wealth would be free to do so in a free society.

  • 4:01 We should deregulate certain industries and stop giving corporate subsidies. Big banks need to be controlled tightly and manufacturing needs to be boosted for export.

  • Step 1 – Cook up arbitrary "Economic Freedom Index" and random numbers in order to promote rent-seeking agenda.
    Step 2 – Cook up fancy video.
    Step 3 – Conflate "economic freedom" with every possible freedom including the social freedom of human interaction.
    Step 4 – Remove country names to erase history and context.
    Step 5 – Promote "economic freedom" as the solution to the poverty created by the rent-seeking agenda (see Step 1).

    Gotta love that Koch-funded research cash.

  • Союз нерушимый республик свободных
    Сплотила навеки Великая Русь.
    Да здравствует созданный волей народов
    Единый, могучий Советский Союз!

    Славься, Отечество наше свободное,
    Дружбы народов надёжный оплот!
    Партия Ленина – сила народная
    Нас к торжеству коммунизма ведёт!

    Сквозь грозы сияло нам солнце свободы,
    И Ленин великий нам путь озарил,
    На правое дело он поднял народы,
    На труд и на подвиги нас вдохновил.

  • Very interesting. In my opinion, the data in this video however would not justifiy capitalism and could be used as an argument against capitalism, since there would be more economic freedom in a market consisting of only democratic institutions, without ultra-vertical tyrannical institutions. Or not?

  • There are so many facts that point to a certain direction. If this was in a science classroom, this would no doubt be classified in the same category as the general theory of relativity, Newtonian theory, and theory of evolution. Its been proven time and time again, but because this is treated differently, there will always be people who say "correlation does not equal causation"

  • the reason why the less economically free countries have more deforestation is because predatory multinational banks get them in huge debt so they have to sell off their resources

  • Show your work on this. Many of the countries where there is much deforestation have almost no "multinational bank" presence at all… which makes sense, considering that frequently their legal environments are totally toxic for any potential outside investment.

  • that not free market. hong kong is on the freest in the word. the isa right now is under fascist economic model. as morals in usa decayed the free market is lost only way to restore it through repentance of sin. problem is when people elect people they then vote people in that they most like. so if politician corrupt then voting base is corrupt.

  • problem is sin is getting in the way of election leaders who want tire economic freedom. we need to repent. once become moral again then we can have a very freedom economy.

  • "This video is the same as Hitlers [blah blah blah, white guilt, blah blah, money is evil, blah blah]" – Godwin's Law prevails! 😀

  • Communism wrongly thinks that value is from labour when it isn't value is from productivity. It's actually very obvious or countries like India and China would have been much wealthier than tiny countries in Europe.

  • When people are able to make their own choices with regards to the direction of the market, it is possible for the capitalist system to work properly. What's wrong isn't the motivation, but the method by which we exchange information.

    Farmers don't know how many mouths to feed, only how many dollars come their way. For all they know, the dollars could've come from a whale or 10000 stomachs. It is this failure of accountability that ensures that resources aren't allocated properly. (Continued)

  • When you run out of money, you lose your ability to participate in the economy. With that loss, demand decreases, supply decreases, a cycle is created, and the dominos begin to fall. Charity and insurance alleviates this, but eventually the money must go elsewhere, and you run out of time. No money, no speech, no demand, no supply.

    For the economy to work, people have to be able to express their demands, while having an awareness of resources, as well as being able to motivate production.

  • I forgot to mention, Moore's Law (which increases supply, lowering prices) helps to counter the domino effect that can be created by Murphy's Law. Still, without sufficient time and bad management, a single layoff has the potential to wreck havoc. Sometimes, people aren't given enough time to produce the next big innovation/invention, or find a job.

  • so long as everyone in the whole world has the same vision that you do than your system sounds ok. But as it turns out different people want different things out of life. Imagine if two people were trying to cooperate to build a vehicle and one person was attempting to build an air-plain and the other a submarine? Cooperation works fine so long as they both want an air plain but as soon as their agendas diverge it becomes better for each one to just leave the other in peace to do his own thing.

  • youre a fool if the market was free those ppl wouldnt be homeless and hungry they would have some form of employment.

  • Capitalism promotes competition and innovation. Most of the greatest discoveries have come from Capitalist Democracies.

    As for Trust how much trust did Stalin and his people have for each other? They reported on each other to the KGB and then were sent to Siberia to work in Gulags.

    Communism does not work because it does not reward those who have worked hard to those that have not. It is NOT equal either, there were way more poor and starving under Communist China and Russia.

  • This is propaganda. Everyone in the comments seems to think the only alternative is to put everyone in a fucking Gulag. Some freedom, if there is only one acceptable way to produce and live.

  • The greatness of capitalism is that it helps all. Hiring employees, people benefiting from innovations like your laptop and creating excess to give to people in need is the only economic way that benefits all of society.

  • Imagine if we had real free and fair markets. GDP's would be off the charts. Some may think that such a big change would take a long time but in fact liberated economies adapt quickly. Hong Kong went from being a typical poor socialist country to becoming one of the richest capitalist countries in the world in no time.

  • Would you by any chance happen to be confusing freed markets (an economic condition where all transactions occur voluntarily absent of state coercion) with capitalism (a coercive socio-economic system bent upon widescale economic and political exploitation)?

  • No amount of state violence will solve our complex social problems. You were heavily propagandized just like me, putting people in cages for not supporting the taxation and forced labor choices and theft of property is not 'promoting cooperation'. Cooperation is voluntary, not force. Capitalism is voluntary action, not force. You have things backwards.

  • Communism doesn't promote anything, it enforces bureaucrat control by way a Government monopoly of force. A Government which isn't elected by citizens. It puts all not politically connected in equal poverty & all favored obedient Government loyalists above the rest with no way to transition up, only down. Government cannot create happiness with more control over the lives of the people. Only liberty can do that.

  • Yes, but at least in Soviet Russia most of the people were in the same socioeconomic class – the bottom.

  • So you're saying it's better to have virtually everyone in the bottom and a very few at the top, rather than a capitalist society where the majority is middle class, i.e. a lot better off.

    I've always thought that socialist's goal was just to drag everyone down with them. Where we see ideas, individualism, freedom, and success, socialists see government, conformity, taxes and envy,

  • I still think some regulations are necessary, I don't believe in an absolutely FREE market. The only question I have is how France has low deforestation with somewhat low economic freedom. Also, countries with high economic freedom may not have deforestation problems, but they do have excessive carbon emissions. Look at the US, Hong Kong, Germany, and Canada. Then look at Hong Kong and the U.S. in terms of income inequality, there has to be some regulation to prevent this right?

  • Have you ever looked up what communism really is? Or you just merely think that communism is dictatorship?

    USSR was a brutal dictatorship(especially Stalin) with some social benefits. It truly wasn't communism, look it up please 🙂

  • What is Communism? Creating a classless, government ordered/structured society where everything is supposedly shared. Theft of other people's property and rights often occurring.

    Communism always seems to lead to a one party state. Cambodia, Cuba, China, Russia/USSR, etc and all have suffered because of it.

    While it started as a noble cause and seemed like a good idea it does not work.
    Give me democracy and the market any day.

  • You actually want a republic, not a democracy. A pure democracy is more or less mob rule. A republic restricts the peoples and government in order to protect individual rights.

  • Communism in theory vs practice. I'm not sure it's ever been practiced outside of a few voluntary communities. I don't think it could ever work outside of a relatively small number of likeminded individuals, and in that case more power to them.
    I guess the problem with such a community would be the inevitable dissent in the 2nd and 3rd generations.

  • Interesting video. However, it would have been more interesting to have some sort of set criteria demonstrated for "economic freedom", and how changes in those criteria affect that country. Also, comparisons between countries that have high economic freedom overall, but lower compared to other such countries, and the consequences of such subtle differences (e.g., country with low corporate tax but strict environmental regulations, vs. country with high corporate tax, but lax labor laws).

  • The Socialist Myth of the Greedy Banker  http://iakal.wordpress.com/2014/02/24/the-socialist-myth-of-the-greedy-banker-the-gold-standard/

  • this suggest only women and children are exploited even though men by far more exploited by both more so women

  • This video is meaningless with the "evidence."  He presents evidence but the evidence he provide is without context.  For example, he suggest that economic freer States are better off and provides three "facts."  But there are a lot more facts he did not provide.  For example, what States was he talking about?  What was the time frame of the numbers, etc.  Also, he suggests that inequality is more likely in an economically freer system.  What are the "facts" he uses for that statement.  I am not disagreeing with his conclusions.  I am only suggesting that he did not provide enough facts for me to draw similar conclusions. 

  • We need Monetary reform.

    Thomas Edison on Government Created Debt-Free Money

    Thomas Edison was an advocate for monetary reform in the United States. He was ardently opposed to the gold standard and debt-based money. Famously, he was quoted in the New York Times stating "Gold is a relic of Julius Caesar, and interest is an invention of Satan."

    In the same article, he expounded upon the absurdity of a monetary system in which the taxpayer of the United States, in need of a loan, be compelled to pay in return perhaps double the principal, or even greater sums, due to interest. His basic point was that if the Government can produce debt-based money, it could equally as well produce money that was a credit to the taxpayer.[92]

    He thought at length about the subject of money over 1921 and 1922. In May 1922, he published a proposal, entitled "A Proposed Amendment to the Federal Reserve Banking System".[93] In it, he detailed an explanation of a commodity-backed currency, in which the Federal Reserve would issue interest-free currency to farmers, based on the value of commodities they produced. During a publicity tour that he took with friend and fellow inventor, Henry Ford, he spoke publicly about his desire for monetary reform. For insight, he corresponded with prominent academic and banking professionals.

    “It is absurd to say that our country can issue $30,000,000 in bonds and not $30,000,000 in currency. Both are promises to pay; but one promise fattens the usurer, and the other helps the people." – Thomas Edison

    We can fix it in a matter of months — a year at most. We can make our government the most financially sound in the world — nearly overnight.

    It's not what backs money that is important, it's who controls the quantity
    – Written by William T. Still

    This is the new Civil Rights movement.

    "This is about the greatest rip-off in history the very way money and debt are created and controlled. This affects everyone on the planet and is the basic cause of all of our economic problems today. It is the cause of most of the world's hunger, poverty, misery and disease.. Until we all recognize this – in every nation – there is nothing any national government can do to fix the problem, and all of us will see mounting debts and sinking standards of living. Our children will inherit this mess, and it will get worse every single year. The truth is that depressions are NOT normal. They are contrived. The truth is that nations don't need a national debt. The truth is that nations don't have to borrow. Why would you borrow when you can create the money you need? The truth is that governments generally aren't PRINTING money wildly; governments are BORROWING money wildly. The good news is we CAN fix this. It won't take a war or a revolution; it only takes a simple understanding of the problem, and its simple solution. The truth is that ANYONE can understand what's going on. This is not rocket science. The truth is that those who are making money off this rip-off want to keep you confused – confused about the basic facts of what your money is and who creates it."
    -Bill Still

    “Any system which gives so much power and so much discretion to a few men, [so] that mistakes ‑‑ excusable or not ‑‑ can have such far reaching effects, is a bad system. It is a bad system to believers in freedom just because it gives a few men such power without any effective check by the body politic ‑‑ this is the key political argument against an independent central bank. . .To paraphrase Clemenceau: money is much too serious a matter to be left to the Central Bankers.” – Milton Friedman

    The Two Step Plan to National Economic Reform

    WSJ Reports: BND Outperforms Wall Street

    Thomas Edison on Government Created Debt-Free Money:

    Revealed – the "Capitalist" network that runs the world

    The Inducement Solution
    (2 Minutes)

    12-year old Victoria Grant explains why her homeland, Canada, and most of the world, is in debt
    (6 Minutes)

    How Loans Control Politics
    (6 Minutes)

    The Gold Standard Debunked
    (9 Minutes)

    Tally Sticks – the solution to the Quantity of Money problem
    (9 Minutes)

    Aaron Russo on The Federal Reserve & How to Shut it Down
    (9 Minutes)

    The Gold Solution is a Lie – Bill Still
    (10 Minutes)

    SOLUTIONS unincorporated – my name is william
    (11 Minutes)

    What's Next For The Canadian Money Masters?
    (12 Minutes)

    England Forbids Colonial Scrip, Provoking the American Revolution
    (12 Minutes)

    Complementary Currencies: A Beginner's Guide
    (16 Minutes)

    Corporatism Explained
    (17 Minutes)

    Public Banking Model for a State

    Public Banking in Costa Rica: A Remarkable Little-Known Model

    Money Trail-The International Banking Cartel
    (1 Hour)

    Oh Canada Movie – Our Bought And Sold Out Land
    (2 Hours)

    Princes of the Yen: Central Bank Truth Documentary
    (1 Hour)

    Jekyll Island – The truth about the Federal Reserve (Trailer) https://www.youtube.com/watch?v=iozNDCYMjSY
    (4 Minutes)

    Jekyll Island: The Truth Behind the Federal Reserve
    (2 Hours)

    Jekyll Island: The Truth Behind the Federal Reserve
    (2 Hours)

    Jekyll Island – The truth about the Federal Reserve (Full move streaming)
    (2 Hours)

    Jekyll Island – The Truth Behind The Federal Reserve – Full Movie:
    (2 Hours)

    Jekyll Island – The truth about the Federal Reserve (Torrent)
    (2 Hours)

    The Secret of Oz – trailer
    (4 Minutes)

    The Secret of Oz – Full Documentary
    (2 Hours)

  • I wish there had been more specific evidence here than just a few charts. A little light on the hard evidence here. I feel like I just ate a freedom burger made with tofu meat.

  • Free market used to mean self-reliance and owning your own means of support, the libertarian way of life. Free markets ≠ capitalism. 'Free markets' refers to a voluntary market system of economics; whereas 'capitalism' historically refers to a particular mode of production within a market economy, wherein the caput (Latin for 'head') or chief of a company owns the means of production and ultimately controls it. The word 'capitalist' was initially used to describe land owners and merchants under the highly centralized mercantile system of 17th century Europe. Classical economists, who opposed mercantilism, never referred to themselves as 'capitalists', or to their proposed system of economics as 'capitalism'; and their idea of the labor theory of value would greatly influence early socialism. According to the famous classical liberal philosopher John Stuart Mill, the "capitalist mode of production" was undesirable, and should be replaced with economic democracy and worker ownership. These concepts were shared by libertarian socialists, including individualists who advocated for free markets (Benjamin Tucker, William B. Greene etc.). Possibly the first thinker to use 'capitalism' in a positive way to refer to classical economics was Hartley Withers, in his book "The Case for Capitalism" 1920, wherein he fantasized about a world wherein every worker would own the capital that they used; much like how his individualist and libertarian socialist predecessors had envisioned. He even spoke highly of the co-operative movement; which just so happens to be the historic root of both socialism and individualist anarchism (Robert Owen, Josiah Warren, Pierre Proudhon).

    "History suggests that capitalism is a necessary condition for political freedom. Clearly it is not a sufficient condition." – Milton Friedman

  • Economic freedom is a benefit should be obvious but people still promote the idea of economic dependency on the government.

  • More claptrap from libertarians. Best example of them…the Koch bros…
    Libertarians….whoever has the most money, makes the rules.
    Americans have seen the biggest theft our money in history by republicans and libertarians in the last 40 years and so many here want more of the same.

Leave a Reply

Your email address will not be published. Required fields are marked *