Global Competition; Trends in Economic Freedom

The Washington Times (Washington, DC), February 15, 2005 | Go to article overview

Global Competition; Trends in Economic Freedom


Byline: William Peterson, SPECIAL TO THE WASHINGTON TIMES

How the mighty have fallen. And even if the fall is not all that big, consider that it's happened to a so-called superpower. Were you looking for the "land of the free" would you try Iceland? Or Ireland? Or how about Estonia?

These three countries made it to the top 10 in the Heritage Foundation's "2005 Index" in terms of economic freeedom, along with Hong Kong (No. 1), Singapore (No. 2), and then in descending order, Luxembourg, New Zealand, United Kingdom, Denmark and Australia.

Surprise, America for the first time in 11 annual issues did not make the top 10. It slipped to No. 12. Why? Edwin Feulner, head of Heritage and an editor of this volume, explains disquietedly: by the United States conceding trade leadership through relatively higher government spending and some protectionist measures.

Or as Mary Anastasia O'Grady, another of the book's editors and a senior editorial page writer at the Wall Street Journal, puts it: "By replacing duties and quotas with antidumping action, the United States is weakening its moral authority as a trade leader and unintentionally encouraging its trading partners to join in the practice."

How do Heritage and the Wall Street Journal, you may ask, measure economic freedom? They update data on 161 countries against a list of 50 independent variables divided into 10 broad empirical factors:

* Trade policy

* Fiscal burden of government

* Government intervention in the economy

* Monetary policy

* Capital flows and foreign investment

* Banking and finance

* Wages and prices

* Property rights

* Regulation

* Informal market activity

So this book shows two trends at work. One lies in the dynamics of global competition for rising betterment of mankind, including the enhancement of world peace, terrorism aside. The other, a counter-trend, lies in ongoing political pressures to stifle this trend through protectionism, especially through tariffs, import quotas or other forms of anti-globalism.

CNN has gotten into the act through its nightly business program under TV anchor Lou Dobbs. For months Mr. Dobbs has been firing torpedoes at what he and his producers call "Exporting America" or "outsourcing" jobs. Heritage senior research fellow James Jay Carafano here takes CNN and Mr. …

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Global Competition; Trends in Economic Freedom
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.