economic freedom

Existing attempts to measure economic freedom have long been imperfect — blurring various definitions of freedom, using subjective rather than objective measures, and either failing to account for economic freedom or focusing exclusively on it. That helps explain the rationale behind the Fraser Institute’s new book, Towards a Worldwide Index of Human Freedom.

“In ancient times, the opulent and civilized found it difficult to defend themselves against the poor and barbarous nations,” Adam Smith observed in 1776. “In modern times, the poor and barbarous find it difficult to defend themselves against the opulent and civilized.” It seems the 21st century is more ancient than modern. What else could be said of an era when failed and failing states generate far more worries for the international community than powerful states?

In the debate over whether the partially state-owned energy company, China’s CNOOC, should be given the go-ahead by Ottawa to take over Calgary-based Nexen, there is the danger that the discussion will be cast in an adversarial east-west context.