Today, the Fraser Institute released this year’s Economic Freedom of the World report. This report “measures the economic freedom (levels of personal choice, ability to enter markets, security of privately owned property, rule of law, etc.) by analyzing the policies and institutions of 157 countries and territories… using 42 distinct variables to create an index, ranking countries based on economic freedom, which is measured in five Areas: 1 Size of Government, 2 Legal Structure and Security of Property Rights, 3 Access to Sound Money, 4 Freedom to Trade Internationally, and 5 Regulation of Credit, Labour and Business.” The report uses 2013 statistics because that is the most current data year.
Property rights in Area 2 are our most fundamental and important rights. For many Canadians, property is their greatest asset and one they are placing considerable dependency on for a comfortable retirement. If a state doesn’t provide a strong legal structure and security of property rights, then it is seriously remiss, indeed. Canadians may think their economic property rights are secure, however, that is not exactly true. Continue reading Economic Freedom and Property Rights