Economic Freedom

Economic freedom refers to the ability of individuals and businesses to make their own economic choices—such as what to produce, how to sell, and where to invest—without excessive government interference. It includes the protection of property rights, free markets, competition, and open trade. When economic freedom is high, resources are allocated efficiently, innovation thrives, and people have more opportunities to improve their standard of living. Conversely, excessive regulation, high taxes, or restrictions can hinder these processes, limiting growth and prosperity.