Abstract:
The Heritage Foundation began ranking trade freedom around the world in 1995. The newest rankings (to appear in the 2011 Index of Economic Freedom) show global trade freedom as high as it has ever been. That is encouraging: Countries with higher levels of trade freedom have higher levels of economic prosperity. Still, the latest average score showed only a slight improvement, and far too many people continue to live in poverty because their political leaders have blocked attempts at opening paths to freer trade. Countries should reduce trade barriers that protect politically powerful elites at the expense of the general population. More free trade leads to higher incomes, more jobs, and greater equality. Heritage Foundation trade policy experts Bryan Riley and Ambassador Terry Miller lay out the facts.
The 2011 rankings of trade freedom around the world, developed by The Heritage Foundation as part of its annual Index of Economic Freedom, show average trade freedom at its highest level to date.[1] Since 1995, the average score out of a possible 100 has grown from 56.7 to 74.8—an impressive 31.9 percent improvement over the 17-year period. The average score improved 0.6 point from the 2010 rankings, a significant achievement given the worldwide recession from which most countries were emerging.
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