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:
“Delusions that shrink to the size of a woman’s glove,
Then sicken inclusively outwards:
. . . the incessant recital
Intoned by reality, larded with technical terms,
Each one double-yolked with meaning and meaning’s rebuttal:
For the skirl of that bulletin unpicks the world like a knot....”
—Philip Larkin (1922–1986)
“At the heart of all beauty lies something inhuman, and these hills, the softness of the sky, the outline of these trees at this very minute lose the illusory meaning with which we had clothed them, henceforth more remote than a lost paradise ... that denseness and that strangeness of the world is absurd.”
—Albert Camus (1913–1960)
“Philosophers have actually devoted themselves, in the main, neither to perceiving the world, nor to spinning webs of conceptual theory, but to interpreting the meaning of the civilizations which they have represented, and to attempting the interpretation of whatever minds in the universe, human or divine, they believed to be real.”
—Josiah Royce (1855–1916)