For three years the Fraser Institute has conducted a project examining the relationship between economic development and civil, political, and economic freedoms. The purpose of the project is ultimately to construct a global index of economic freedom and thereby to facilitate such an examination. Such an index could also be used in analysis to predict the economic consequence of changes in the level of economic freedom in different countries.

In the course of this research two very interesting political entities have come to the attention of researchers. Both are British colonies, both have achieved extraordinary economic success by comparison with other countries having similar opportunities, and neither has the true political independence and political autonomy which is a characteristic of independent sovereign nation states. The two countries are Hong Kong and Bermuda.

In this book Professor James Ahiakpor, a participant in the Fraser Institute Rating Economic Freedom project, courageously undertakes an examination of the consequences for Bermuda should independence form a part of the island country's future.