WILLIAMS: Young People Ignorant Of History

A recent survey conducted by the Victims of Communism and polled by YouGov, a research and data firm, found that 70% of millennials are likely to vote socialist and that one in three millennials saw communism as “favorable.”

Let examine this tragic vision in light of the Fraser Institute’s recently released annual study “Economic Freedom of the World,” prepared by Professors James Gwartney, Florida State University; Robert A. Lawson and Ryan Murphy of Southern Methodist University; and Joshua Hall, West Virginia University, in cooperation with the Economic Freedom Network.

Hong Kong and Singapore maintained their lead as the world’s most economically free countries — although China’s heavy hand threatens Hong Kong’s top ranking. Rounding out the top 10 are New Zealand, Switzerland, the United States, Ireland, the United Kingdom, Canada, Australia and Mauritius. By the way, after having fallen to 16th in 2016, the U.S. has staged a comeback to being in the top five economically free countries in the world.

What statistics go into the Fraser Institute’s calculation of economic freedom? The report measures the ability of individuals to make their own economic decisions by analyzing the policies and institutions of 162 countries and territories. These include regulation, freedom to trade internationally, size of government, sound legal system, private property rights and government spending and taxation.

Fraser Institute scholar Fred McMahon says, “Where people are free to pursue their own opportunities and make their own choices, they lead more prosperous, happier and healthier lives.”

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