Advocates of interventionism characterize capitalism as the freedom to exploit — that is, as freedom to pay sweatshop wages, freedom to amass unequal wealth, freedom to degrade the environment to enable production, and freedom to discriminate.
While a free market does sometimes allow individuals the freedom to act in ways progressives may not like, the overall effect of economic freedom is to promote many of the values its opponents claim to champion.
Market competition penalizes exploitation and rewards those who contribute to the general welfare.
Skeptics may scoff, but the empirical data support our claims.
The Fraser Institute releases reports on its Economic Freedom of the World (EFW) index annually. The simplified criterion for economic freedom is determined by the size of government (which encompasses spending and taxes), security of property rights, access to sound money, freedom for international trade, and regulation of credit, labor, and business, though there are…
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