With the possible exception of a few extreme environmentalists, everyone agrees that robust long-run growth is a key to a better society.
An unprecedented jump in growth, for instance, is what enabled the western world to escape poverty,
resulting in the famous “hockey stick” of modern prosperity.
Maintaining growth is an ongoing challenge for developed countries, to be sure, and it’s also vitally important to help developing nations grow and prosper.
Which is why policymakers should focus on the policies that generate good outcomes.
Libek, a think tank in Serbia, has released a study on this topic. They start by pointing out that we now have some good measures of economic liberty in various nations.
…the Economic Freedom in the World Index in 1996 by the Fraser Institute…was the first methodological tool that measured intrusion in functioning of the market process by government entities, either directly
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