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Economic Freedom Comparisons The United States has the largest and most diversified economy in the world with its economic freedom being mostly free at number 17 on the list of the world’s freest countries. However, the country over time has had an ongoing decline in economic freedom. Because of this, it is no longer considered to be one of the top 15 freest economies in the world. There are many other countries that by looking at their statistics for trade freedom, property rights, and business freedom, can be compared with the United States how well their economic system is going. Over the course of 5 years, being number 2 on the list of the world’s freest economic system, Singapore has grown from 87.5% in 2012 to being at 88.6% in 2017. The country’s trade freedom is extremely important to them with their tariff rate being at 0.0%. Since 2012, it has managed to stay the same at 90%. However, in the United States, trade is only moderately important increasing to only 87.1% from 86.4%. The U.S has a tariff rate of 1.4%, making it a little harder than in Singapore, to import and export goods and services. Sectors of Singapore’s economy highly welcome foreign investment. Being one of the least corrupt countries in the world, Singapore’s property rights are well enforced and have substantially increased over time by 7.88%. Whereas in the U.S, property rights have been unbalanced and decreased by 4.35% since 2012. There has been a broad expansion of occupation licensing contributing to this. With the United States growing deeper into debt, it has been made harder to open and or close a business. Because of this, business freedom has gone down in the U.S by 7.35%, while in Singapore it has also decreased by 2.16%. In Singapore, the business start up process is extremely easy and has very flexible labor regulations. With that being said, the country stays at a business freedom rate of 95.1% today. Going farther down the list, Denmark is ranked at number 18, just below the United States being a mostly free economic country. Denmark’s trade freedom has gone from 87.1% to 87% over the past 5 years, not really changing much. This puts them and the U.S at a tie of both being 87% today. Their property rights have gone down as well from 90% to 86.7%. Denmark is only 4.5% higher than the U.S in this category. Denmark is also ahead of the U.S in business freedom despite its percentage going down from 99.1% to 93.9% over the course of 5 years. It is much faster and smoother there than in the U.S to launch a business and have it up and running. Finally, Kosovo is ranked at number 46 having only a moderately free economic system. Kosovo’s trade is important to their economy rising 0.8% in time. However, the United States are 16.3% higher than Kosovo in terms of trade freedom. Kosovo’s tariff rate falls at 7.1%, their domestic and foreign investors are treated equally. Their property rights have grown the most of all 3 countries discussed by over 134.3% since 2012. It went from 30% to its peak being 70.3% in 2017, being only 11% behind the United States. Although they have grown in this area, corruption remains to be a problem in this country. Both countries suffer with citizens’ property rights being somewhat unprotected. Courts do not always provide due process. Business freedom in Kosovo has gone up 31.29% in the past 5 years and it is no longer a requirement to have a minimum capital in order to start a business. Nonetheless, the U.S remains to be ahead. In conclusion, there are many different countries that exceed the United States’ percentages in a number of areas despite its economic freedom. The U.S could be doing extremely better in comparison to countries higher up on the list of the freest economic system countries in the world. Looking at charts for areas such as trade freedom, property rights, and business freedom, we are able to find growth and or declines in the United states and other countries to compare and contrast economic freedom world wide.

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