Where (International) Trade Grades Are Changing

During March, the 2021 Index of Economic Freedom was published. In the past, econlife looked at the big categories. Focusing on regions and laissez-faire, we asked which countries had the least government intervention. For Europe, that took us to Ireland…

How Laissez-Faire Countries Tax and Spend

What we tax and how we spend send a message. So today, let’s look at what countries with more economic freedom tell us through their fiscal policy. Laissez-Faire Countries I’ve selected laissez-faire countries from the list created by the Index…

What North Korean Workers Did With Their Choco Pies

While the North Korean economy is centrally planned, the Choco Pie is a tiny example of the how a market system develops.

A 2019 Update: The World’s Top and Bottom Laissez-Faire Countries

The Index of Economic Freedom is a handy source of data for judging whether or not a government has a laissez-faire philosophy.

A 2018 Update: The World’s Top and Bottom Laissez-Faire Countries

The Index of Economic Freedom is a handy source of data for judging whether or not a government has a laissez-faire philosophy.

The Decline of Laissez-Faire

Perhaps it all began when President Lyndon Johnson called Wilbur Mills, chairman of the House Ways and Means Committee. “Wilbur, I’ve just been looking through the polls here, and I’ve only got a few weaknesses, and the worst of them…

Why China Wants to be Called a Market Economy

Ignoring Adam Smith’s ideas, the EU will probably tell us by 2016 that China has a market economy because the World Trade Organization requires a decision.

The World's Top and Bottom Laissez-Faire Countries

Please note that this post was updated here at econlife. I have been seeing more of Adam Smith in the news recently. Reviews of Thomas Piketty’s new book and policy discussions about sluggish growth always seem to oppose or support…

Singapore’s Pollution Solution

When a country’s economy is ranked the 2nd freest in the world, how do they manage auto congestion and pollution? By auctioning a limited number of vehicle permits, Singapore makes owning a car very expensive. A VW Passat in Singapore could cost…

Corn Counters

To estimate the size of the corn crop, the U.S. Department of Agriculture (USDA) hires corn counters. Calculating stalk stats and assessing cob size, they observe 15 foot sections in thousands of fields. Add to that weather predictions, yield trends,…