The 2014 Index of Economic Freedom tracks the level of economic freedom in 186 countries. Economic freedom means that individuals are free to work, produce, consume, and invest in any way they please. In countries with economically free societies, governments allow labor, capital and goods to move freely, and with few constraints.
The index measures economic freedom based on 10 factors, grouped into four broad categories: (1)Rule of Law- property rights & freedom from corruption; (2)Limited Government- fiscal freedom & government spending; (3)Regulatory Efficiency- business freedom, labor freedom, & monetary freedom; and, (4)Open Markets- trade freedom, investment freedom, & financial freedom.
Go to the 2014 Index of Economic Freedom (http://www.heritage.org/index/). Select “Country Rankings.” Find the “United States” and click on it to read why it is ranked the way it is. Select and read about two other countries – ones that differ substantially in their rankings. Next, click “Graph the Data” to visually compare your three countries across the ten factors. Discuss the biggest similarities and differences.
400 words minimum, APA formatted referenced.