James Gwartney is a professor of economics at Florida State University. I n the intellectual battle between state control of resources and free markets, some argue that the market economy now reigns supreme. The Berlin Wall has fallen. Maoism has given way to joint ventures in China. In the U. S. and England, New Democrats and New Labor both claim to support the basics of free markets.
Ideology is one thing, reality is another.
Much of the world's population still endures insecure property rights, corrupt courts, and arbitrary bureaucracies. Thugs and tyrants are slow to change their ways. For the last decade, we have measured economic freedom around the globe. Hong Kong and Singapore share the top rating of 9.4 on a scale of 10. Changes in Economic Freedom Since 1980 We calculated economic freedom ratings of 123 countries every five years starting in 1970.