Everything you Need to Know About Wealth and Economic Freedom

In two minutes and twenty-seven seconds, everything your high school or college student needs to know–and a succinct, compelling statement of all that’s in state in the election next year:

Note, by the way, that this video was produced by the Charles Koch Foundation.  Gee.  The New Yorker, the New York Times, the whole mainstream media establishment that has spent months attacking the Koch brothers–I see now that they were all right.  The Kochs are trying to manipulate American from smoke-filled back rooms.  See, the words “Brought to you by the Charles Koch Foundation” appear at the end of the video, not at the beginning, and even then the font is on the smallish side.

Honestly.  Those Kochs.  Regular Dr. Evils.

  1. MFQuinn

    Thanks for giving this exposure, Peter.  It’s wonderful.  “Disturbing” doesn’t come close to describing my feelings about the USA’s sinking rank on List A.

  2. Misthiocracy

    From Karen Selick:

    Several international organizations publish indexes ranking the countries of the world according to the degree of freedom their citizens enjoy. Some, like Canada’s Fraser Institute, focus on economic freedom. Others, like Reporters Without Borders, focus on freedom of the press. Still others focus on political rights and civil liberties. Readers can see four major indexes charted, side by side, in a Wikipedia article entitled List of freedom indices.

    The correlation is unmistakable. The countries that have the greatest economic freedom also overwhelmingly have the greatest freedom of the press, the greatest civil liberty, and the most democratic rights.

    It’s not hard to understand why this happens. Economic freedom promotes prosperity. For instance, in the 2010 index Economic Freedom in the World, countries in the top quartile of economic freedom had an average per-capita GDP that was more than eight times the average per-capita GDP of the countries in the lowest economic freedom quartile. The economically free countries also had significantly longer life expectancy, less corruption, and even lower murder rates than the unfree countries.

    Read the full article here.

  3. Kenneth
    MFQuinn: Thanks for giving this exposure, Peter.  It’s wonderful.  “Disturbing” doesn’t come close to describing my feelings about the USA’s sinking rank on List A. · Jun 28 at 11:13am

    Note that the video says that economic freedom in the United States has fallen “…over the last decade…”. 

    Not just over the past two years; over the last decade.

    George W Bush and his Big Government Conservatism bear a substantial amount of the blame.  He is, after all, the guy who signed the energy act of 2007 and Sarbanes-Oxley, as well as standing fecklessly by as the EPA extended its control over economic activity. 

  4. Bruce in Marin

    Great video.  I wonder if this could be shown in high schools.  I imagine not… clearly this would be considered propaganda, and completely misguided.   Then I consider whether it could have been shown in high school 40 years ago, when I was there.  I think perhaps it COULD have been, but it never was.  It is such a shame that the right conceded so much of the high ground before putting up any kind of a fight in the culture wars.

  5. Clem Comly

     ”all that’s in state in the election next year”  I assume you mean at stake.  If you update the post please delete this.  Thanks

  6. Capt. Aubrey

     I too thought back to High School and to what extent we have lost freedom in absolute versus relative terms. There is no doubt that other countries have become more free than they were in the past, the USSR and China are only the obvious examples but there is also no doubt that we have seen many constraints on our absolute freedom from the TSA and the regulatory burden to the climate of PC that exists in some places. Sometimes my memory of the repudiate of Jimmy Carter’s America is all that keeps me going. Lets hope we compete for greater freedom among all the countries nothing could expand it more than competition.

  7. James Lileks
    C

    I’d expect nothing less from the Kochs, with their tiresome and predictable fixation on “economic freedom” and “income,” as if these are the measures of a life. What of the literacy rate, so one may understand state-sponsored poetry? Access to contraceptions? Commitment to low-impact sustainable housing policies, like yurts made from organically-nourished jute and hemp? Freedom to ruin the planet, it looks like to me. 

    Well,  I’m off to Whole Foods. They have the best duck. 

  8. Otto Maddox

    I plan on showing this to all of my econ classes.  There’s more to macroeconomics than short term business cycle theory.

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