New Economic Report Rings Alarm Bells: The “Stalinist” Edicts of 2020-21 Dealt a Blow to Human Liberty That Persists Today.
the staff of the Ridgewood blog
Ridgewood NJ, For decades, the global trend toward economic and personal liberty appeared to be an unstoppable force, lifting billions out of poverty and driving innovation. However, according to the latest data, that long march of freedom suffered a devastating reversal.
The newest edition of the Fraser Institute’s Economic Freedom of the World Report, which includes data through 2023, paints a concerning picture: the global response to the COVID-19 pandemic—characterized by what many critics termed “Stalinist global lockdowns”—inflicted a massive blow to human liberty. Even years later, the freedom movement has not recovered from those sweeping mandates and government controls.
The Unshakeable Truth: Freedom Fuels Prosperity
Despite the setbacks, the report implicitly reinforces a universal and immutable economic truth: freedom still works.
Why is this simple equation still so hard for policymakers to grasp? More freedom means higher living standards. Regions that maintain higher levels of economic liberty consistently demonstrate superior performance, offering their citizens greater opportunities for prosperity, wealth creation, and innovation.
This core principle remains a vital lesson for every government, from local municipalities to international bodies.
The American Exception: Wealth Outpaces Europe
While the global freedom scores languish, the United States continues to set itself apart, particularly in economic dynamism. A striking chart from Laffer Associates confirms that over the past two decades, U.S. wealth has risen four times faster than Europe’s.
This massive divergence isn’t random. It’s largely attributed to the robust, free-market environment that fosters the multi-trillion-dollar tech industry. The dominance of giants like Google, Microsoft, Amazon, and Apple has driven unprecedented growth in the U.S. equity markets, blowing past gains seen in Europe and Japan.
This stark contrast highlights the economic rewards reaped by nations that successfully nurture innovation, limit regulatory burden, and defend the core principles of economic freedom—principles that are desperately needed to repair the damage left by the restrictive lockdown era.
The solution is to start voting RED, think about it – please. Help save our Republic.