The Heritage Foundation recently released their 2024 Index of Economic Freedom. According to the report, the index attempts to quantify how liberty and free markets are supported throughout the globe by assigning an overall score to over 175 countries. Each country is graded on ten different components that all impact the amount of freedom citizens enjoy in their respective countries. Some of these components include property rights, government integrity, judicial effectiveness, trade freedom, and others.
Mauritius came in as the most economically free country in Sub-Saharan Africa, having an overall score of 71.5 out of 100, which makes it the 19th freest economy in the world according to the Heritage Index. Other relatively high-scoring Sub-Saharan African countries included Botswana, followed by a host of African island nations: Cabo Verde, São Tomé and Príncipe, and Seychelles. Tanzania, Côte d’Ivoire, the Gambia, and Namibia rounded out the top ten most economically free Sub-Saharan African countries in this year’s index.
Economic freedom is a key driver of economic growth, and Heritage’s President Kevin Roberts noted that “We know from history that human flourishing comes in part from economic fairness, opportunity, and liberty. We also know, however, that the enemies of freedom are persistently pursuing collectivism, equity, and social justice.” Unfortunately, it seems as if these state-centered advocates have been gaining ground as of late, with this year’s average economic freedom score falling from 59.3 to 58.6.
The equation is pretty simple. As individuals are given the freedom to keep their hard-earned profits, invest in enterprises that they see fit, and start businesses when they see a gap in the market, countries thrive. However, when governments feel the need to encroach on people’s private property, use the judicial system to further their own state-centered agenda, and expand the scope of government into nearly every area of human activity, economies collapse. The history of failed state-centered development projects is long, and economic freedom is the path to prosperity.
Click here to see the Heritage Foundation’s 2024 Index.
Alexander Jelloian
Alexander Jelloian is the Research and Project Manager at the Initiative for African Trade and Prosperity.
The Heritage Foundation recently released their 2024 Index of Economic Freedom. According to the report, the index attempts to quantify how liberty and free markets are supported throughout the globe by assigning an overall score to over 175 countries. Each country is graded on ten different components that all impact the amount of freedom citizens enjoy in their respective countries. Some of these components include property rights, government integrity, judicial effectiveness, trade freedom, and others.
Mauritius came in as the most economically free country in Sub-Saharan Africa, having an overall score of 71.5 out of 100, which makes it the 19th freest economy in the world according to the Heritage Index. Other relatively high-scoring Sub-Saharan African countries included Botswana, followed by a host of African island nations: Cabo Verde, São Tomé and Príncipe, and Seychelles. Tanzania, Côte d’Ivoire, the Gambia, and Namibia rounded out the top ten most economically free Sub-Saharan African countries in this year’s index.
Economic freedom is a key driver of economic growth, and Heritage’s President Kevin Roberts noted that “We know from history that human flourishing comes in part from economic fairness, opportunity, and liberty. We also know, however, that the enemies of freedom are persistently pursuing collectivism, equity, and social justice.” Unfortunately, it seems as if these state-centered advocates have been gaining ground as of late, with this year’s average economic freedom score falling from 59.3 to 58.6.
The equation is pretty simple. As individuals are given the freedom to keep their hard-earned profits, invest in enterprises that they see fit, and start businesses when they see a gap in the market, countries thrive. However, when governments feel the need to encroach on people’s private property, use the judicial system to further their own state-centered agenda, and expand the scope of government into nearly every area of human activity, economies collapse. The history of failed state-centered development projects is long, and economic freedom is the path to prosperity.
Click here to see the Heritage Foundation’s 2024 Index.
Alexander Jelloian
Alexander Jelloian is the Research and Project Manager at the Initiative for African Trade and Prosperity.