The key ingredients of economic freedom are personal choice, voluntary exchange, freedom to compete, and protection of the person and property. Economic freedom liberates individuals and families from government dependence and gives them control of their own future. Empirical research shows this spurs economic growth by unleashing individual dynamism. It also leads to democracy and other freedoms as people are unfettered from government dependence. The annual Economic Freedom of the World Report ranks countries on their level of economic freedom. This comprehensive index, constructed under the leadership of The Fraser Institute and Nobel Laureate Milton Friedman, is the most objective and accurate measure of economic freedom published to date by any organization and the only one that uses reproducible measures appropriate for peer-reviewed research.
