Free trade (not "fair trade") = Prosperity

The Wall Street Journal released their annual Report on Economic Freedom.

An exerpt from the editorial:

"Here's bad news for those who oppose global free trade: Not only did the world-wide trend toward greater economic liberty hold steady over the past year, but the incomes of poor individuals across the globe are rising as result. The world isn't only growing richer. The gap between the per-capita income of have-not populations and that of the developed world is narrowing."

The rankings are here. Some countries to note are:

1. Hong Kong (naturally)

2. Singapore (no surprise)

3. Australia

4. United States (of course)

6. UK

7. Ireland

10. Canada

11. Chile

12. Estonia (see FDC 1/11/2008 post)

49. Mexico (see FDC 1/12/2008 post)

119. China (a long way to go)

120. Russia (a long way to go, but going in the wrong direction)

142. Syria

144. Venezuela (Hugo, look at the bottom of this list. Getting any clues??)

150. Iran (of course)

156. Cuba (ditto)

DEAD LAST #157: North Korea (or more formally, The Democratic People's Republic of Korea)