The Fraser Institute is out with their latest "Economic Freedom" rankings. In the report, Economic Freedom of the World: 2006 Annual Report, countries are ranked by their so-called economic freedom.
The problem with this report is that no country deserves a passing grade,yet many are given impressive scores.
The report completely ignores the destructive nature of money manipulation (Particularly money supply inflation) , especially the long-term destructive consequences of such.
Why are we up in arms about this?
The United States, for example, receives an overall rating of 8.2 (out of 10)and generally gets a rank of 9 plus for money soundness. This categorization occurs despite the fact that the money supply (M2NSA) in the United States has grown over the last 10 years from $3,754 billion [August 1996] to $6,868 billion [August 2006].
This money supply growth suggests tremendous mis-allocations in the economy--that
wll ultimately lead to a severe economic downturn.
Thus it makes no sense to give a passing grade, i.e. above 6, when a country has a money supply controlled and manipulated by the state. When the ultimate business cycle collapse occurs, won't socialist's of every stripe point to the high freedom ranking as an indication that freedom is a failure?
In fact, the failure will not be because of freedom, but because there simply is no money freedom and free banking in the world.
