by Rick Lowe
According to the Fraser Insitute's, Free The World.com project:
"Economic freedom has been shown in numerous peer-reviewed studies to promote prosperity and other positive outcomes. It is a necessary condition for democratic development. It liberates people from dependence on government in a planned economy, and allows them to make their own economic and political choices."
They go on to point out:
"The classic definition of economic freedom is:
"Individuals have economic freedom when property they acquire without the use of force, fraud, or theft is protected from physical invasions by others and they are free to use, exchange, or give their property as long as their actions do not violate the identical rights of others. An index of economic freedom should measure the extent to which rightly acquired property is protected and individuals are engaged in voluntary transactions."
"Economic Freedom of the World: 1996 Annual Report"
Our friends over at The Nassau Institute are listed as co-authors of this project and they recently released a report to the local press.
Unfortunately The Bahamas is slipping in Economic Freedom.
Read their entire report here...
