What's So Great About Economic Freedom?

Tyler Durden's picture


Economic freedom involves more than just the freedom to buy and sell products and services. It allows us to be free in our interactions with other people. Economic freedom enables us to travel, to say what we want to say, to do what we want to do. This is how Prof. Antony Davies describes the 'positives' of somewhat commonsensical benefits of economic freedom. In this brief clip, he shows how economic freedom is associated, in the data, with a number of positive indicators of a healthy country. For the first 3:30 of this fascinating discussion, the professor clarifies how great it all is... then just when you're feeling wonderfully smug, he shows the facts for the USA, as we discussed here and here, things are trending away from economic freedom for Americans.



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Mon, 02/11/2013 - 19:53 | 3235091 Dear Infinity
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What economic freedom? Show me your papers, please. Oh, is that a memory card in your backpack? Hand it over. We promise we won't upload all your family photos to the TSA list-serv...

Mon, 02/11/2013 - 19:58 | 3235096 MrX
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a sure sign of the end times:


Mon, 02/11/2013 - 20:07 | 3235113 Say What Again
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Check out this old poster from Wikipedia.


Going from top (wealthy) to the bottom (proletariat) you have

1: We rule you

2: We fool you

3: We shoot at you

4: We eat for you

5: The proletariat works for all the above.

They didn't have drones or DHS back then, otherwise there would be another level in the hierarchy.  Mr Banzai -- can you do something with this?


Mon, 02/11/2013 - 22:10 | 3235427 A Nanny Moose
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Was that Neil Peart?

Mon, 02/11/2013 - 20:03 | 3235112 Bad Attitude
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War Is Peace, Freedom Is Slavery, Ignorance Is Strength

George Orwell was an optimist.

Mon, 02/11/2013 - 20:22 | 3235156 Say What Again
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Frankie say -- No MOAR!

Tue, 02/12/2013 - 01:24 | 3235873 A Nanny Moose
A Nanny Moose's picture

I thought Frankie said, "Relax"

Mon, 02/11/2013 - 19:55 | 3235094 l1b3rty
l1b3rty's picture

I will take some sugar with that economic freedumb...


Mon, 02/11/2013 - 19:56 | 3235098 Joe moneybags
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The author certainly wasn't talking about the economic freedom of the Banksters.  That remains pretty much unfettered.

Mon, 02/11/2013 - 19:58 | 3235099 MrX
MrX's picture

freedom is for sissies

Mon, 02/11/2013 - 20:00 | 3235108 Dre4dwolf
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Lol economic freedom?

Sure you can spend what scraps they leave you on whatever garbage trinkets you want, thats about as much freedom as you have.


Tue, 02/12/2013 - 01:44 | 3235905 Diogenes
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100 brands of breakfast cereal, all made of the same ingredients by the same 3 companies. Freedom of choice American style.

Mon, 02/11/2013 - 20:02 | 3235110 PeeramidIdeologies
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Economic Freedom.... Perhaps a moment of silence is appropriate...

Mon, 02/11/2013 - 23:17 | 3235554 cynicalskeptic
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not just 'economic' freedom..... personal freedom has pretty much been flushed too.....   Bill of Rights?  -  what's that? ...........  Rule of Law?  - bwahaaaaaa.........

Mon, 02/11/2013 - 20:10 | 3235123 Ricky Bobby
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Really that has already been decided. Shut the fuck up slaves and get back to work - that is if you have a job. If not then just die.

Mon, 02/11/2013 - 20:14 | 3235129 q99x2
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Time to write Rockefeller a letter and let him know he's on the world's shit list.

Mon, 02/11/2013 - 20:21 | 3235155 Say What Again
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Please CC The House of Rothschild

Mon, 02/11/2013 - 23:23 | 3235565 Radical Marijuana
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I do not believe that the plutocrats still control the fascist plutocracy system that they originally created.

The systems that they originally made and maintained are OUT OF CONTROL ...

Mon, 02/11/2013 - 20:24 | 3235160 The Econ Ideal
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And yet many don't care, they have their head stuck in the sand (or elsewhere). I submit it's a two part story: education and awareness. Those calling for both, but especially awareness, are cited as fringe. Tom Woods pointed out that even "anti-Federalists" that support limited government and fiscal restraint, with greater decentralization, are categorized as a threat by the West Point CTC. Free markets and banking are dismissed in ridicule. A solution: give a copy of The Road to Serfdom to all kids in junior high. Publish excerpts in the MSM. The Road to Serfdom was cited as a primary influence against socialism after the war. We now need to not only fight socialism, but financial repression, both central planning nightmares. 

Mon, 02/11/2013 - 21:26 | 3235349 Rusty Shorts
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Global Debt And The HUMAN BUBBLE. By Gregory Mannarino



Mon, 02/11/2013 - 21:27 | 3235356 NoDebt
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Take my economic freedom.  Please.  (paraphrasing the old Henny Youngman joke)

End of the day, it's not so much being taken as the American people are willingly giving it away.  The whole country is acting like some out-of-control teenager that just stole Daddy's credit card.  What am I saying?  It's more like the whole world.

Boys and girls, I'd suggest you squirrel it away (somewhere the government can't get it's hands on it) or live it up until the music stops.  Whatever floats your boat.  Just don't expect it's going to go on like this forever, because it won't.

I know this because I just inherited an 1893 $20 US gold piece.  I weighed it.  It's worth at least $3000 just in gold weight alone.  If you dropped it on your toe it would kinda hurt a little.  Think about that for a minute.  $20 in 1893 vs. $3,000 today.  Talk amongst yourselves.  You'll figure it out.


Mon, 02/11/2013 - 21:52 | 3235393 nmewn
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"The whole country is acting like some out-of-control teenager that just stole Daddy's credit card. What am I saying? It's more like the whole world."

The boys & girls can't figure it out because of the language used to convey it.

"Government revenue" isn't heard as taxation anymore...it means shit growing on trees or printing...no harm till they discover $5.00 gasoline and $5.00 bread.

Likewise, "government investment" isn't heard as government spending...not to their untrained ears. It is heard as the expanding contraction of the private economy!

Expansion is good! Right? ;-)


Tue, 02/12/2013 - 09:46 | 3236295 StandardDeviant
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An excellent point.  The language is important.

Here in the UK, a scary survey recently made the news.  Highlights:

•    47% of British adults responding said they thought the Coalition Government is planning to REDUCE the national debt by around £600 billion between 2010 and the end of this Parliament in 2015.
•    12% said the Coalition was planning neither to reduce nor increase the national debt
•    32% said they did not know
•    And only 10% were right in saying that the Coalition Government is planning to INCREASE the national debt by around £600 billion by the end of this Parliament

So, only 10% even understand the difference between "debt" and "deficit".  (And only a third are honest enough to say they don't know.)

Mon, 02/11/2013 - 21:28 | 3235358 Coldfire
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It's all about the choices: (a) the state steals 50% of your income; or (b) the state throws you in a cage. Yeah, real freedom. There are none so enslaved as those who falsely believe they are free.

Mon, 02/11/2013 - 21:32 | 3235362 davidsmith
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Another superficial, sophomoric analysis.  Why does ZH print this trivial junk?

Mon, 02/11/2013 - 21:35 | 3235368 Charles Nelson ...
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Of course our masters have given us economic freedom. Now gays can file their taxes jointly in many states.

Mon, 02/11/2013 - 21:39 | 3235373 A Lunatic
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Of course all of this presupposes the existence of an economy............

Mon, 02/11/2013 - 22:00 | 3235412 Banjo
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What utter nonsense.


1. How about you define what economic freedom is.


2. Next the countries that are not free do a spot check and see if some of the BIG guys are exploiting or sanctioning them e.g. Iran, Iraq, Somalia, Haiti, Cuba et el..


Classical economists for all their faults yabbered on about free movement of capital AND labour. We have almost total freedom of capital I guess you don't want the serfs being able to move around.


China and Russia have low debt compared to the US I would say their freedoms are much much less too. So there goes one bullet point argument.




Mon, 02/11/2013 - 23:46 | 3235557 Radical Marijuana
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The GENERAL principles THERE

regarding meaningful freedom:




However, there is no freedom without force. There are no rights without remedies. There are neither rights or freedoms without duties and responsibilities. The bigger problems are that political economy is always inside human ecology. The monetary freedoms can not exist outside of the military contexts of the murder systems. The popular notions regarding "freedom" and "liberty" tend to be advanced as impossible ideals, which could never be reconciled with basic physics.

I have never seen any proof that human beings can create energy out of nothing, nor send energy to nothing. Therefore, I find no reason to believe in any kind of miraculous freedoms which operate independently of the natural environment regarding sources of energy and information.

We should give "freedom" operational definitions that are meaningfully related to the rest of the known universe, rather than free floating miraculous magical notions. Too many people love "liberty" as a kind of transcendental poetry word, that is tautologically true, because it has no operational definitions that give it any specific meanings.

I have no doubt that our basic ideals, such as consent of the governed, through a rule of law that is consistent with that, enables a greater use of information, or an overall higher level of consciousness to operate. However, that could work much better IF we gave those magic words like "freedom" and "liberty" more meaning, which meaning could be related to the rest of the world of energy systems. At present, those magical words are mainly applied as manifest hypocrisy, to conceal what is really going on, which has become the hijacking of the ideals of the consent of the governed through the rule of law by the best organized gangs of criminals.

The current limit case dilemmas arise with respect to the ideas that production can not be separated from reproduction, just like political economy can not be separated from human ecology. Human freedoms should have associated responsibilities. However, our society has specialized in its immaculate hypocrisy, to produce a completely bogus kind of conception about "freedom" which does not have to respect any natural limits.

"Freedom" that deliberately ignores its real environment is NOT FREEDOM. However, that kind of bullshit "freedom" is the kind of magical thinking which dominates most of the public debates regarding these things. My view is that we tend to approach the concept of "freedom" backwards, the same as we do almost everything else. Instead of starting with the limits of our environment, and then attempting to give "freedom" operational meaning within that context, we tend to start with "freedom" as an impossible ideal, which somehow should support everything else.

Paradoxically, to actually become really more free, we need to respect much more the degrees to which we are not free. We are NOT free to produce things out of nothing, nor to send things to nothing. Therefore, we are NOT free to reproduce people, since we can not feed them with nothing, nor send their waste products to nothing. Meaningful operational definitions of "freedom" should be consistent with energy laws.

Of course, almost nothing in our actual social system is done that way, since our actual society is automatically becoming less and less free, as triumphant frauds are taking over more and more. As long as we have a privatized fiat money system, (which is runaway triumphant fraud) then we ACTUALLY are inside a system of debt slavery, headed towards debt insanity. Paradoxically, bullshit beliefs about idealized "freedom" and "liberty" have been the basis to undermine and destroy whatever real freedoms and liberties might still be possible within a world that respected energy laws.

"What's So Great About Economic Freedom" is that it permits a greater use of information, which enables a higher consciousness to operate. However, that ONLY works when those ideas about "freedom" are consistent with energy laws. Otherwise, we have bogus "freedom" that is merely another way to conceal frauds achieving robberies.

At the present time, Americans' "freedoms" are being systematically destroyed because they are more and more totally dominated by runaway triumphant frauds, in the form of privatized fiat money-as-debt systems, supervised by the Federal Reserve Board. It is quite meaningless to talk about "Liberty" inside of that context. Furthermore, it continues to be relatively meaningless to talk about "Liberty" in any ways that deliberately ignore basic physics and energy laws manifesting throughout every aspect of our environment that we can scientifically observe!

We should move past notions of "economic freedom" being nothing more than an oxymoron which somehow weds the material world to transcendental poetry. However, Americans love that kind of bullshit so much that it is hard to imagine that happening. Instead, we should expect real freedom to continue to disappear, as the bullshit "freedom" continues to be systematically destroyed by its tacit support of triumphant financial frauds.

Paradoxically, the primary way that magical notions of "freedom" operate is to enable financial frauds to operate through privatized fiat money systems, which are flagrant frauds, which obviously violate the laws of nature (except when seen as being frauds), BUT, which still are enabled to continue because most Americans want to continue to believe in things which quite generally ignore the laws of nature.

Common sense should suggest that our ideas about "freedom" should be consistent with natural laws, however, the fact that we have a runaway fiat money system, which makes that "money" out of nothing, and which allows that "money" to return to nothing, demonstrates that we routinely take for granted believing in bullshit. In the real American context, "Liberty" has become a transcendental poetry word, severed from any operational meaning, which has enabled runaway triumphant financial frauds to operate, in ways which are systematically destroying what "freedom" could be and should be.

Paradoxically, we need less of that kind of bogus "Liberty" in order to have more real freedom.

Mon, 02/11/2013 - 23:53 | 3235649 pragmatic hobo
pragmatic hobo's picture

... freedom is just another word for nothing left to lose ...

Mon, 02/11/2013 - 23:56 | 3235660 Umh
Tue, 02/12/2013 - 06:02 | 3236080 thisandthat
thisandthat's picture

You need someone that doesn't question orders

Tue, 02/12/2013 - 02:10 | 3235937 steve from virginia
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What a fool. Too much emphasis on GDP.


GDP is a measure of the debt a country takes on. GDP 'growth' is the increase in debt over the previous year. GDP is nothing more than debt-driven inflation ... that is not recognizes as such. Following this logic, the countries that fool themselves best like the US and EU are the 'most free'.


Freedom is the ability to opt out of the current high level of market-state freedom ... of trans-national corporations to screw us.



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