Measuring Economic Freedom vs. Human Freedom

The Fraser Institute's study of economic freedom in the world for 2022 (data from 2020) has just been published. As usual, the stars of the show are Hong Kong and Singapore, with New Zealand not far behind. The US is at seventh place.

One might ask: How can an island that is completely under the thumb of a Communist nation be the most free nation in the world? And how can a country (New Zealand, No. 4) be considered free if its people just passed a law forbidding anyone born on or after January 1, 2009 from buying tobacco, ever? Not just before they reach the age of 21, but forever. (Good luck with that....)

Free image from Pixabay.com

Okay, I get the measuring sticks used by this study. They are purely economic. The measurements concern:

• Size of government
• Legal systems and property rights
• Sound money
• Freedom to trade internationally
• Regulation

But aren't there a few more criteria that they should include? For example, I could imagine adding these:

• Freedom of the press
• Not just the size but the intrusiveness of government
• Government stability and autonomy
• Monetary stability

And maybe others.

In researching this question, I answered it for myself. Fraser has also published what it calls the Human Freedom Index. In this study, Hong Kong drops to the 34th place, Singapore to 44th, and the King of the Roost is ... wait for it ... SWITZERLAND!

I could have told you that. My favorite country.

Here are the criteria for the human freedom index:

• Rule of law
• Security and safety
• Movement
• Religion
• Association, assembly, and civil society
• Expression and information
• Relationships
• Size of government
• Legal system and property rights
• Sound money
• Freedom to trade internationally
• Regulation

So be careful which index you use for decisions about your future. Frankly, what is economic freedom without human freedom, I ask you?