Economic Freedom and Economic Growth

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cassowary
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Economic Freedom and Economic Growth

Post by cassowary » Wed Oct 18, 2017 7:56 pm

Irony: Former Commie countries teach the US an economic Lesson
Once again, there is more evidence that economic freedom leads to success. Many of the former communist countries of Central and Eastern Europe and the Soviet Union have made enormous economic progress from the time they became free almost three decades ago. The first few years after the collapse of communism (1989-92) were very difficult as the countries struggled to make the transition to a capitalist free-market economy, which many had largely achieved by 1995. The irony is there are some lessons for the United States from some of the successes of the former communist countries.

Last month, James Gwartney, a highly regarded economist and scholar (and longtime lead author of the annual report of Economic Freedom of the World), presented a comprehensive study of the successes and failures of 25 of the former centrally planned countries of Central and Eastern Europe and the Soviet Union. The results of this and many other studies illustrate that economic policies which lead to more economic freedom and less government intrusion benefit countries in all stages of development.

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SteveFoerster
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Re: Economic Freedom and Economic Growth

Post by SteveFoerster » Fri Oct 20, 2017 8:07 am

One can only hope. But when even the Republicans, the supposedly pro-market party, show time and time again that they're simply interested in crony corporatism rather than actual free enterprise, there's little hope for the U.S. economy to break out of being stalled.
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Milo
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Re: Economic Freedom and Economic Growth

Post by Milo » Sat Oct 21, 2017 11:31 pm

Gibberish. The article doesn't define what economic freedom is then proceeds to ascribe all good things to it and all bad things to a lack of it.


"You can see that as the number of pirates in the world has decreased over the past 130 years, global warming has gotten steadily worse. In fact, this makes it entirely clear that if you truly want to stop global warming, the most impactful thing to do is -- become a pirate."

https://www.forbes.com/sites/erikaander ... c568623a67

neverfail
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Re: Economic Freedom and Economic Growth

Post by neverfail » Sun Oct 22, 2017 5:26 am

The horrid thing about the totalitarian states like the USSR and it's satellites was that they denied PEOPLE freedom. Characteristically, they were brought together by violence; maintained by terror and stripped everyone of personal privacy. The individual was state property - not just the means of production; and the ruling party was the state. Yet I have noticed repeatedly that contributors to this discussion website, including the initiator of this discussion, always slate lack of economic freedom as the greatest sin while ignoring the more important stuff.

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Milo
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Re: Economic Freedom and Economic Growth

Post by Milo » Sun Oct 22, 2017 7:03 am

neverfail wrote:
Sun Oct 22, 2017 5:26 am
The horrid thing about the totalitarian states like the USSR and it's satellites was that they denied PEOPLE freedom. Characteristically, they were brought together by violence; maintained by terror and stripped everyone of personal privacy. The individual was state property - not just the means of production; and the ruling party was the state. Yet I have noticed repeatedly that contributors to this discussion website, including the initiator of this discussion, always slate lack of economic freedom as the greatest sin while ignoring the more important stuff.
Agreed.

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cassowary
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Re: Economic Freedom and Economic Growth

Post by cassowary » Tue Oct 24, 2017 12:08 am

Denying people economic freedom leads to loss of political freedom. Converdelylt, giving people economic freedom even by an autocrat will eventually lead to political freedom. Eg Pinochet, East Asian countries that were capitalist but authoritarian.

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Milo
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Re: Economic Freedom and Economic Growth

Post by Milo » Tue Oct 24, 2017 1:28 am

cassowary wrote:
Tue Oct 24, 2017 12:08 am
Denying people economic freedom leads to loss of political freedom. Converdelylt, giving people economic freedom even by an autocrat will eventually lead to political freedom. Eg Pinochet, East Asian countries that were capitalist but authoritarian.
A tautology that still manages to be wrong!

Cass, you would be just as at home with the Cultural Revolution, had your birth placed you there.

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cassowary
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Re: Economic Freedom and Economic Growth

Post by cassowary » Tue Oct 24, 2017 2:42 am

I don't think so, Milo. Lots of people agree with me.

Economic freedom is the Foundation of all freedom. https://mises.org/library/there’s-no-po ... ic-freedom.

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SteveFoerster
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Re: Economic Freedom and Economic Growth

Post by SteveFoerster » Wed Oct 25, 2017 9:36 am

cassowary wrote:
Tue Oct 24, 2017 2:42 am
I don't think so, Milo. Lots of people agree with me.
Lots of people agree with Marx, too, but he was still wrong.

I wish economic freedom did reliably lead to political freedom. But we have ample evidence that's not necessarily the case. Sometimes it is, especially in the West. But other times, not so much.
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