Meaning
The Heritage Foundation reports that the top 20% on the index have twice the per capita income of those in the second quintile, and five times that of the bottom 20%. Carl Schramm, who wrote the first chapter of the 2008 Index, states that cities of Medieval Italy and mid-19th century Midwestern American cities all flourished to the degree they possessed economic fluidity and institutional adaptiveness created by economic freedom.
According to Will Wilkinson of the libertarian think tank Cato Institute, studies show that higher economic freedom correlates strongly with higher self-reported happiness. According to Tomi Ovaska and Ryo Takashima, economic freedom research suggests "that people unmistakably care about the degree to which the society where they live provides them opportunities and the freedom to undertake new projects, strongly with and make choices based on one's personal preferences."
According to the Cato Institute, higher economic freedom promotes participation and collaboration. Also claimed is that higher economic freedom is extremely significant in preventing wars; according to their calculations, freedom is around 54 times more effective than democracy (as measured by Democracy Score) in diminishing violent conflict.
Read more about this topic: Index Of Economic Freedom
Famous quotes containing the word meaning:
“Do you know what Agelisas said, when he was asked why the great city of Lacedomonie was not girded with walls? Because, pointing out the inhabitants and citizens of the city, so expert in military discipline and so strong and well armed: “Here,” he said, “are the walls of the city,” meaning that there is no wall but of bones, and that towns and cities can have no more secure nor stronger wall than the virtue of their citizens and inhabitants.”
—François Rabelais (1494–1553)
“Several classical sayings that one likes to repeat had quite a different meaning from the ones later times attributed to them.”
—Johann Wolfgang Von Goethe (1749–1832)
“Of the three forms of pride, that is to say pride proper, vanity, and conceit, vanity is by far the most harmless, and conceit by far the most dangerous. The meaning of vanity is to think too much of our bodily advantages, whether real or unreal, over others; while the meaning of conceit is to believe we are cleverer, wiser, grander, and more important than we really are.”
—John Cowper Powys (1872–1963)