Countries that follow the ideals of economic freedom end up having a population with higher standards of living and prosperity.
Economic freedom is the most important aspect of a countries social system for people's standards of living. Often people talk about limiting business and allowing government to provide more services. These people are wrong, and lack the basic understands of economics that drive up the standards of living of all people.
Economic freedom is...
Top Countries of 2007 (marked out of 10)
Worst Countries of 2007 (marked out of 10)
Judging by the list of countries you see here, you can tell that being a free person in the economy is essential to having prosperity. The underlining principals are independent of location and natural resources. Hong Kong, for example has no natural resources besides fish. It is in close proximity of Myanmar, which happens to be a military dictatorship. By having a social system of capitalism that recognizes individual and economic freedom people can increase their standards of living.
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