The Right Coast

January 11, 2004
Another Index of Economic Freedom
By Michael Rappaport

In addition to the Wall Street Journal / Heritage Foundation index, there is another index of economic freedom put out by the Fraser Institute. According to Marginal Revolution, this one is supposed to be based more on quantitative measures than the WSJ / Heritage one, which is based more on qualitative observations. In some respects, the results coincide (Estonia does well under both) but in other respects, they diverge (Israel fares more poorly (56) in the Fraser index). One interesting result revealed by these indexes is how much economic freedom there is in the Scandinavian countries. Denmark is 13th, and Swedan and Norway are tied for 26th. A lot of economic freedom is these so called socialist countries.