Tuesday, September 25, 2012

The Stunning, Sudden Reversal of Economic Freedom In America

Built up over more than two centuries, America’s “irreversible trend toward more freedom” has been suddenly (and stunningly) reversed over the last decade – with tragic consequences for business owners, taxpayers and citizens alike. - Howard Rich/FORBES

Once a bastion of free market ideology and unprecedented prosperity, America’s ongoing descent into dependence-inducing command economics is fast approaching terminal velocity.

According to the Cato Institute’s latest Economic Freedom of the World report –– which incorporates more than forty “objective components” related to each country’s government size, property freedom, monetary policy, trade policy and regulatory climate – the United States has seen its economic freedom plunge “precipitously” in recent years....

“Subsidies, grants and other forms of political favoritism directed toward well-organized interests providing large political contributions have become the primary business of both parties, undermining economic freedom and retarding economic growth,” they note. “Unless American voters and the politicians they elect reverse course, our future will be one of stagnation, dependency, broken promises and increased political corruption.”