Ah, freedom. What’s more important? Freedom is the wind in your hair, an undefined feeling, a virtue. And it’s the kind of thing that can be rigidly quantified by a bunch of economists. Naturally.
The UK is the ninth ‘freest’ country in the world, according to the newest study by the Fraser Institute, a Canadian libertarian think-tank. This marks the highest we’ve ranked in the study since 2019, but much lower than at our peak in the early 2000s. So how do they measure this stuff?
Calling it the ‘freest countries’ index is slightly misleading. The study is very specifically focussed on economic freedoms such as international trading restrictions and the size of a government. Despite an overall improvement from the last study which placed Britain at 16, the country scored lower in the ‘size of government’ and ‘regulations’ categories, which confusingly means the government grew in size.
Alexander Hammond, a fellow at the institute, described this growth as ‘most alarming’ – though that is, of course, a matter of political opinion. After all, some people actually want a bigger, more active government, even if Hammond evidently doesn’t.
Singapore was determined the world’s most economically free country this year, overtaking previous leader Hong Kong. Other countries in the top five included Switzerland, New Zealand, and the land of the free itself, the USA.
Some may be surprised at it the UK’s position, as many are still struggling without government help with the cost-of-living crisis and unprecedented levels of inflation. But hey, at least we can find solace in the fact that we’re monetarily 'freer’ than average, according to the original arbiters of the concept: random men.
Did you see that this UK national park has been named one of the most beautiful in the world?
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