Economic freedom

Jakob de Haan and Jan-Egbert Sturm

Chapter 36 in Elgar Encyclopedia of Public Choice, 2025, pp 252-258 from Edward Elgar Publishing

Abstract: The cornerstones of economic freedom (EF) are personal choice, voluntary exchange, open markets, and clearly defined and enforced property rights. The Fraser Institute and the Heritage Foundation publish indexes of EF. Although many empirical studies on the relation between (changes in) EF and economic growth are flawed, there seems to be a positive association between (changes in) EF and growth. Causality between EF and inequality may run in both directions. Still, most studies focus on the unidirectional causality between EF and inequality, employing different methodologies, measures of inequality and EF, and samples. These studies yield very mixed results.

Keywords: Economic freedom; Economic growth; Income inequality (search for similar items in EconPapers)
Date: 2025
ISBN: 9781802207743
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