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The freedom to make economic choices


Economic freedom may seem a somewhat nebulous idea. But economic freedom is important to individuals because it is one of the main drivers of prosperity and growth. Economic freedom leads to other important developments, including improved health and education in developing countries. It allows people to be in charge of their own future.

Economic freedom focuses on personal choice, the ability to make voluntary transactions, the freedom to compete, and the security of privately owned property. It ultimately provides the foundation of other freedoms and democracy by liberating individuals and families from dependence on government.

Fred McMahon, Director, Center for Globalization StudiesFred McMahon,
Director, Center for Globalization Studies