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:
“Losing life is a trifle and I will have that courage when I need it. But to see the meaning of this life vanishing, our reason for existing disappearing, that is what I cannot stand. No one can live without reason.”
—Albert Camus (1913–1960)
“Even in my own writings I cannot always recover the meaning of my former ideas; I know not what I meant to say, and often get into a regular heat, correcting and putting a new sense into it, having lost the first and better one. I do nothing but come and go. My judgement does not always forge straight ahead; it strays and wanders.”
—Michel de Montaigne (1533–1592)
“The superman is the meaning of the earth. Let your will say: the superman is to be the meaning of the earth! I beseech you, my brothers, be true to the earth, and do not believe those who speak to you of otherworldly hopes! They are poisoners, whether they know it or not.”
—Friedrich Nietzsche (1844–1900)