Economic Freedom

The Heritage Foundation has published its annual Index of Economic Freedom. On top is, no suprise, Hong Kong. Unfortunately, the U.S. has fallen to tenth place. A particularly disturbing development is Venezuela, where Leftist President Hugo Chavez is not making life easy for his citizens (or anybody else for that matter). Venezuela's score for capital flows and foreign investment have plummeted and is now 2 points worst this year. Despite a number of troubling developments, I'm still optimistic that globalization is going to make the world a more free and prosperous place for all.