Definitions for economic freedom
eco·nom·ic free·dom

WiktionaryRate this definition:4.6 / 11 votes

1. economic freedomnoun

   The freedom to produce, trade and consume any goods and services acquired without the use of force, fraud or theft.

WikipediaRate this definition:0.0 / 0 votes

1. Economic freedom

   Economic freedom, or economic liberty, is the ability of people of a society to take economic actions. This is a term used in economic and policy debates as well as in the philosophy of economics. One approach to economic freedom comes from the liberal tradition emphasizing free markets, free trade, and private property under free enterprise. Another approach to economic freedom extends the welfare economics study of individual choice, with greater economic freedom coming from a larger set of possible choices. Other conceptions of economic freedom include freedom from want and the freedom to engage in collective bargaining.The liberal free-market viewpoint defines economic liberty as the freedom to produce, trade and consume any goods and services acquired without the use of force, fraud, theft or government regulation. This is embodied in the rule of law, property rights and freedom of contract, and characterized by external and internal openness of the markets, the protection of property rights and freedom of economic initiative. There are several indices of economic freedom that attempt to measure free market economic freedom. Based on these rankings, correlative studies have found higher economic growth to be correlated with higher scores on the country rankings. With regards to other measures such as equality, corruption, political and social violence and their correlation to economic freedom, it has been argued that the economic freedom indices conflate unrelated policies and policy outcomes to conceal negative correlations between economic growth and economic freedom in some subcomponents.

WikidataRate this definition:4.0 / 4 votes

1. Economic freedom

   Economic freedom or economic liberty or right to economic liberty denotes the ability of members of a society to undertake economic direction and actions. This is a term used in economic and policy debates as well as a politicoeconomic philosophy. As with freedom generally, there are various definitions, but no universally accepted concept of economic freedom. One major approach to economic freedom comes from classical liberal and right-libertarian traditions emphasizing free markets, free trade and private property under free enterprise, while another extends the welfare economics study of individual choice, with greater economic freedom coming from a "larger" set of possible choices. Other conceptions of economic freedom include freedom from want and the freedom to engage in collective bargaining. The free market viewpoint defines economic liberty as the freedom to produce, trade and consume any goods and services acquired without the use of force, fraud or theft. This is embodied in the rule of law, property rights and freedom of contract, and characterized by external and internal openness of the markets, the protection of property rights and freedom of economic initiative. There are several indices of economic freedom that attempt to measure free market economic freedom. Empirical studies based on these rankings have found higher living standards, economic growth, income equality, less corruption and less political violence to be correlated with higher scores on the country rankings.

How to pronounce economic freedom?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say economic freedom in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of economic freedom in Chaldean Numerology is: 7

2. Pythagorean Numerology

   The numerical value of economic freedom in Pythagorean Numerology is: 8

Examples of economic freedom in a Sentence

1. Kevin Brady:

   I have an announcement I can't think of a better place to make it than right here at the chamber I led many years ago. ... So, I am retiring as your congressman, this term, my 13th, will be my last. You know I set out originally to give you, my constituents, the representation you deserve, the effectiveness you want and the economic freedom you need. I hope I delivered on that.

2. Marian Tupy:

   Some of the anti-capitalist impulse goes back to that hunter-gatherer mentality and not comprehending the complexity of the market economy, the complexity outpaced our ability to understand it. But even those who don’t understand markets should open their eyes and acknowledge its benefits : Worldwide, wherever economic freedom is allowed, millions of people have lifted themselves out of stoop labor and miserable poverty. Of course, not everyone can reap the benefits of markets. The sick, the mentally ill and other truly helpless people need a hand. But why assume government must provide that help ? Government does n’t do anything very well. Why not let private charity handle it ? I once assumed there was too much poverty for private charity to make much of a difference. But now I realize there is plenty of money, and private charity would do much more if government did n’t discourage it. When the welfare state took over poverty relief, it crowded out.

3. Kevin Brady:

   This term, my 13th, will be my last. You know I set out originally to give you, my constituents, the representation you deserve, the effectiveness you want and the economic freedom you need. I hope I delivered on that.

4. Kim Reynolds:

   Republican governors across America are leading the charge in defending liberty and security unmatched economic prosperity in our states, the Biden administration is governing from the far-left, ignoring the problems of working-class Americans while pushing an agenda that stifles free speech, free though, and economic freedom. The American people have had enough, but there is an alternative, and that’s what I look forward to on Tuesday evening.

5. George W. Bush, speech, November 19, 1999:

   The case for trade is not just monetary, but moral. Economic freedom creates habits of liberty. And habits of liberty create expectations of democracy.

References

1. ^ Wiktionary
   https://en.wiktionary.org/wiki/Economic_Freedom
2. ^ Wikipedia
   https://en.wikipedia.org/wiki/Economic_Freedom
3. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=economic freedom