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:
“It’s given new meaning to me of the scientific term black hole.”
—Don Logan, U.S. businessman, president and chief executive of Time Inc. His response when asked how much his company had spent in the last year to develop Pathfinder, Time Inc.’S site on the World Wide Web. Quoted in New York Times, p. D7 (November 13, 1995)
“From man’s blood-sodden heart are sprung
Those branches of the night and day
Where the gaudy moon is hung.
What’s the meaning of all song?
“Let all things pass away.””
—William Butler Yeats (1865–1939)
“He is the essence that inquires.
He is the axis of the star;
He is the sparkle of the spar;
He is the heart of every creature;
He is the meaning of each feature;
And his mind is the sky,
Than all it holds more deep, more high.”
—Ralph Waldo Emerson (1803–1882)