Economic Freedom Paper

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Economic Freedom Paper

Economic Freedom

Socialism has failed everywhere it has been tried and Venezuela is the latest example of a failed socialist economy. Globalism is the liberal authoritarian social justice desire for a "one world" view that enacts policy that transfers wealth, jobs and sovereignty out of their home country to the international community (UN). Globalists rejects patriotism and the important role of nations in protecting its boarders, traditional values and the security of their citizens. Globalism, big government spending programs, entitlements, regulations, and tax burdens (Socialism), destroys a country’s wealth, strangles the economy, and drives out the manufacturing sector.

Economic freedom is the fundamental right of every human to control his or her own labor and property. In an economically free society, individuals are free to work, produce, contract, consume, and invest in any way they please. In economically free societies, governments allow labor, capital, and goods to move freely, and refrain from taxation, coercion, regulations or constraint of liberty beyond the extent necessary to protect and maintain liberty itself.

This essay discusses the failures of Socialism and why socialist nations struggle with poverty and unemployment, as a result of government corruption, spending, taxation, and political control of resource systems. Competitive, market driven private sector investments tend to go to nations with a high economic freedom index. This essay explains how the ideals of economic freedom are strongly associated with healthier societies, cleaner environments, greater per capita wealth, human development, democracy, and poverty elimination. The paper illustrates why nations with high Economic Freedom Index, are a preferred place, not only for ambitious, aspiring, enterprising and highly qualified individuals to live, they are highly favored for private sector investments into R&D and production operations.

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