The Socioeconomic Impact of Economic Freedom

Humanities and Social Sciences, pp. 105-125, 2015

22 Pages Posted: 30 Oct 2015

See all articles by Edgars Rožāns

Edgars Rožāns

Ministry of Economics Investment and Development Agency of Latvia

Date Written: October 29, 2015

Abstract

Regarding economic freedom, research shows that although it has its negative effects, especially in a shorter term, e.g., the phase of increasing inequality, overall trends are indicative that countries with higher levels of economic freedom have not only higher gross domestic product per capita and its growth rates, but also have better health care, education system, environment protection, as well as greater income equality, and maybe above all, happiness results. These trends of increasing prosperity with augmenting economic freedom are confirmed even when one compares these results within the territories of countries.

Keywords: Socioeconomic impact of economic freedom; development through economic freedom; the Index of Economic Freedom

JEL Classification: A14; B12; E22; E61; E62; E63; E66; F43; F63; H50; I00; O34; O52; O57; P14

Suggested Citation

Rožāns, Edgars, The Socioeconomic Impact of Economic Freedom (October 29, 2015). Humanities and Social Sciences, pp. 105-125, 2015. Available at SSRN: https://ssrn.com/abstract=2683493

Edgars Rožāns (Contact Author)

Ministry of Economics Investment and Development Agency of Latvia ( email )

Brīvības iela 55
Rīga, Vidzeme LV - 1519
Latvia

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