February 2021

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« A Toast to Cheaper Goods | Main | A Credit Theory of the Great Recession and The Long Slow Recovery (or Absence of One) »


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Canada outranks the United States? Sweet!

I must admit, I am quite skeptical of these economic freedom indices; they are often driven by think tanks' biases. However, they are fun to look at.

Having been responsible (senior editor) for producing the competitor to Cato's index for 4 years, I can report that both indices were based on many years of academic study and conferences.

Unknown to us, Richard Roll did an independent analysis of what we did at Heritage. He found our analysis to be sound and the results robust.

The junior researchers actually doing the scoring of countries simply had no agenda with respect to the outcomes. There were layers of oversight.

I would like to see the indexes recalibrated to circa 1929. The scores would all be much lower.

Why would you want to recalibrate to the peak of a boom -- at the height of capital misallocation?

Chooes~~~~~~~~~If you plan on posting these, please don't put up the whole series on your site. That's greedy! 3 or 4 or 5 is good, then put a link to this post. Thanks so much for spreading the word!!!!!

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