The United States has fallen from 3rd to 16th in worldwide economic freedom – and its slowing our economic growth, according to a new report from the National Center for Policy Analysis by Southern Methodist University Research Assistant Professor Ryan H. Murphy.
“Across the world, the fundamental institutions of capitalism and trade are under attack, and have been under attack since 2000,” says Murphy. “The declines in the scores of deep variables concerning property and trade are what underlie the measured decline in freedom.”
What are these variables? Murphy points to a decline in the quality of the legal system and the rising costs of trade as the key variables driving down the United States’ economic freedom.
“Until these characteristics of the United States improve, we should not expect growth rates to return to where they once were,” adds Murphy.
The Deep Causes of Today’s Struggling U.S. Economy: http://www.ncpathinktank.org/pub/the-deep-causes-of-today-s-struggling-us-economy
The National Center for Policy Analysis (NCPA) is a nonprofit, nonpartisan public policy research organization, established in 1983. We bring together the best and brightest minds to tackle the country’s most difficult public policy problems — in health care, taxes, retirement, education, energy and the environment.