A better way
LESS GOVERNMENT, MORE PROSPERITY
Ranking Australia, Switzerland, and the U.S.
Richard Rahn suggests a better way:
"Over the past 15 years, Australia, Canada, Sweden, Switzerland and some other countries have all reduced the relative size of their governments and have seen their per capita incomes and other measures of citizen well-being rise relative to the United States. The Swedes managed to cut the size of their government by 20 percent, and now they have about the highest growth rate in Europe. If the U.S. did the equivalent, much of its debt/deficit problem would disappear."
Read on.
Thanks, David.
Ranking Australia, Switzerland, and the U.S.
| AUSTRALIA | SWITZERLAND | USA | |
| GDP per Capita (current USD), July - 2011 | $64,351 | $75,834 | $48,666 |
| Life Expectancy at Birth | 81.8 | 81.1 | 78.4 |
| Unemployment Rate | 5.0% | 3.4% | 9.2% |
| Government Spending as a % of GDP, 2011 | 36% | 34% | 41% |
| Debt as a % of GDP, 2011 | 11.0% | 20.2% | 61.3% |
| Deficit as a % of GDP, 2011 | -2.5% | +0.3% | -10.8% |
| Corruption Perception Index Rank | 8 | 8 | 22 |
| Index of Economic Freedom Rank | 3 | 5 | 9 |
| Economic Freedom of the World Index Rank | 8 | 4 | 6 |
| Sources: IMF, CIA, Transparency International, Heritage Foundation, Fraser Institute | |||
Richard Rahn suggests a better way:
"Over the past 15 years, Australia, Canada, Sweden, Switzerland and some other countries have all reduced the relative size of their governments and have seen their per capita incomes and other measures of citizen well-being rise relative to the United States. The Swedes managed to cut the size of their government by 20 percent, and now they have about the highest growth rate in Europe. If the U.S. did the equivalent, much of its debt/deficit problem would disappear."
Read on.
Thanks, David.
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