Re: measuring economic freedom

A Hit'n'Run post on the Heritage Foundation's annual Index of Economic Freedom -- and the resulting arguement over the meaning -- inspired the following...

I've never given much credit to the "Index of Economic Freedom". For many reasons: the inaccurate suggestion that economic freedom & civil liberties are two different animals (notice Singapore's position on that list...), general distrust of a Republican thinktank, etcetera. Though, the main one would be how economic freedom is defined by people sympathetic with the State.

The criteria for such ranks are inherently biased in favor of a corporatist interpretation of capitalism in that they would consider some concerns that are actually completely compatible with a true free-market economy to be "social issues" (read: socialist crap) & thus not to be counted. To serve a real purpose in measuring economic freedom rather than compatibility with corporatism, the measurement itself would have to be redefined:

1) extent to which open, honest exchanges are "left alone".

2) whether the relationship in the larger-scale sectors between management & employee is defined by the State (in collusion with either), or is solely on a voluntary case-by-case basis. For example, though a "closed-shop" law (requiring union membership for employment) & "right to work" rules (stating you can be fired for any, or no, reason, among other things) are outwardly intended for different factions, both are impositions by government on labor.

3) equality of status between various manners of voluntary economic organization. Basically, whether or not the government plays favorites to some types of market actors.

4) corruption. Degree to which "who you know" matters to market access.

I'm curious what the rankings would be on such a list.

This would pull the definition of economic freedom more in line with how liberty is defined in non-economic terms: absense of force. The more that economic activity is driven by voluntary means, w/ no hidden force guiding anything, the more free that economy is. I'd personally object to measuring economic freedom & personal liberty seperately on principle, but there's a right way to do everything.