Yeah.. so in other words they use officially reported CPI. Two problems with that:
*CPI is very unreliable in some countries (ie: Argentina, where the official figure is as much as 1/3 what independent economists estimate)
*CPI does no way tell the whole story about money creation and where it goes. Money is fungible... it can just as easily go into the price of one of the goods in the CPI basket as it can go to drive up asset prices (think S&P500, Nasdaq or housing bubble).
Nevertheless, despite some reservations, I agree that this index is food for thought and contains lots of useful stuff.
Topic: Property Rights (Read 867 times)
I like the idea, and I don't see any major errors in the classifications.
It's not the classifications, but the methodology. After all if you have to give a quantitative score for each category, you have to base it on something... look up what they use for their "monetary freedom" score: http://www.heritage.org/index/monetary-freedom
Monetary Freedom
Monetary freedom combines a measure of price stability with an assessment of price controls. Both inflation and price controls distort market activity. Price stability without microeconomic intervention is the ideal state for the free market.
Price stability should be quantifiable. Is the "assessment" of price controls too imprecise?
Sources. Unless otherwise noted, the Index relies on the following sources for data on monetary policy, in order of priority: International Monetary Fund, International Financial Statistics Online; International Monetary Fund, World Economic Outlook, 2012; Economist Intelligence Unit, ViewsWire; and official government publications of each country.
Anyway, it is food for thought.
I like the idea, and I don't see any major errors in the classifications.
It's not the classifications, but the methodology. After all if you have to give a quantitative score for each category, you have to base it on something... look up what they use for their "monetary freedom" score: http://www.heritage.org/index/monetary-freedom
Possibly from this site:
http://www.heritage.org/index/
The 10 economic freedoms are grouped into four broad categories or pillars of economic freedom:
http://www.heritage.org/index/
The 10 economic freedoms are grouped into four broad categories or pillars of economic freedom:
- Rule of Law (property rights, freedom from corruption)
- Limited Government (fiscal freedom, government spending)
- Regulatory Efficiency (business freedom, labor freedom, monetary freedom)
- Open Markets (trade freedom, investment freedom, financial freedom)
Yeah, I have quite a few problems with the methodology, especially for "monetary freedom". But it is somewhat illustrative... particularly two categories: property rights and government spending.
I like the idea, and I don't see any major errors in the classifications. I have not detected an obvious political bias in their rankings.
http://www.heritage.org/index/ranking
Possibly from this site:
http://www.heritage.org/index/
The 10 economic freedoms are grouped into four broad categories or pillars of economic freedom:
http://www.heritage.org/index/
The 10 economic freedoms are grouped into four broad categories or pillars of economic freedom:
- Rule of Law (property rights, freedom from corruption)
- Limited Government (fiscal freedom, government spending)
- Regulatory Efficiency (business freedom, labor freedom, monetary freedom)
- Open Markets (trade freedom, investment freedom, financial freedom)
Yeah, I have quite a few problems with the methodology, especially for "monetary freedom". But it is somewhat illustrative... particularly two categories: property rights and government spending.
Overall I am not keen on The Heritage Foundation (especially given who their main source of funds are)... but this index in particular is probably the best that you will get from a mainstream source. It certainly has the most data, from the largest number of countries.
Possibly from this site:
http://www.heritage.org/index/
The 10 economic freedoms are grouped into four broad categories or pillars of economic freedom:
http://www.heritage.org/index/
The 10 economic freedoms are grouped into four broad categories or pillars of economic freedom:
- Rule of Law (property rights, freedom from corruption)
- Limited Government (fiscal freedom, government spending)
- Regulatory Efficiency (business freedom, labor freedom, monetary freedom)
- Open Markets (trade freedom, investment freedom, financial freedom)
Is this from a children's coloring book?
What.. you don't like the Eckert VI map projection? or is it Eckert IV?
Is this from a children's coloring book?
Then again... if you live in one of these.. you will probably need it too... as the first factor suffers greatly when those in charge need to find a way to finance this second metric.
where is this from? a website? interesting metrics.
Then again... if you live in one of these.. you will probably need it too... as the first factor suffers greatly when those in charge need to find a way to finance this second metric.
I'm in orange zone. 
If you live in one of the countries marked in red, Bitcoin is a must-have tech.
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