Economic freedom opens up the path to prosperity.
Of course freedom is also valuable in itself. Yet, the idea, that economic freedom and prosperity are mutually reinforcing, or even compatible, is increasingly being questioned. Indeed, during the last federal election over 60 per cent of the electorate voted for political parties which promised to reduce economic freedom in the belief that that would bring prosperity. Of course, the critics are also concerned that freedom brings with it greater social inequities. Despite its pivotal role, the notion of economic freedom has received surprisingly little systematic attention.