Bitcoin News and Finance
United States Plunges in Economic Freedom Rankings Study Reveals Skip to main content

United States Plunges in Economic Freedom Rankings Study Reveals

United States Plunges in Economic Freedom Rankings, Study Reveals

American television presenter and author, John Stossel, released a video on June 20, 2023, where he delved into the findings of a recent study on global economic freedom. Conducted by the Heritage Foundation and unveiled in late February, the research unveils a stark reality: the United States has experienced a substantial decline in economic freedom. From being ranked as the 20th freest nation in 2022, the United States has now slipped to the 25th position in 2023.

John Stossel’s Video and Heritage Foundation Study Expose Decline in U.S. Economic Freedom

John Stossel, the television show host and author known for his libertarian leanings, recently released a video discussing global economic freedom and the United States’ position among other nations. “Is America really the land of the free?” Stossel asked in a tweet. “Not anymore, according to a new ranking. The U.S. fell to 25th freest country on Earth,” the broadcaster explained. In the video, Stossel refers to the 2023 Index of Economic Freedom, which is published annually by the Heritage Foundation.

According to the study, the United States has reached an all-time low in economic freedom rankings, with Singapore emerging as the top country in this regard. “The United States continued its decline in economic freedom, recording a score of 70.6, a 1.5 decrease in freedom score from 2022 and its lowest score in the history of the Index,” the study’s summary declares. “The U.S. maintained its global ranking of 25th freest in the 2023 Index after falling from 20th to 25th in 2022.”

The Heritage Foundation’s summary adds:

The report points to the Biden administration’s ill-informed economic and entrepreneurial policies and unchecked deficit spending for leaving the U.S. economy in flux.

Singapore claims the title of the freest country this year, with Switzerland, Ireland, Taiwan, and New Zealand following closely in the rankings. Derrick Morgan of the Heritage Foundation, in his conversation with Stossel, emphasized the significance of preserving “data longevity” for study purposes. “Does economic freedom over time lead to freer, more prosperous, healthier, and cleaner environments?” Morgan inquired. “It does,” he affirmed. The Heritage Foundation’s data identifies North Korea, Cuba, Venezuela, Sudan, and Zimbabwe as the least economically free nations.

The United States scored 25 this year, coinciding with a period in which crypto asset firms grapple with regulators who employ enforcement rather than legislation. Such regulatory actions have the potential to drive crypto firms away from the United States and stifle innovation as a whole. Dr. Kevin Roberts, President of The Heritage Foundation, argues that numerous nations have forsaken essential economic principles.

“The world and America are at a crossroads,” Roberts stated. “Too many countries have renounced basic economic principles leaving communities to suffer the consequences.”

What do you think can be done to restore economic freedom in the United States? Share your thoughts and opinions about this subject in the comments section below.

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Post a Comment
Read more
Blogarama - Blog Directory