In the latest affirmation of the strong bond between economic liberty and prosperity, a new report positions New Hampshire at the pinnacle of freedom within North America. The Fraser Institute’s Economic Freedom of North America index has crowned the Granite State as the freest, attributing its top ranking to the harmonious relationship between reduced government constraints and robust economic growth. As champions of both personal and economic liberty, we at Defiance Daily celebrate this ranking as a testament to the principles of limited government and individual freedom.
The index, assessing data from 2022, evaluates the levels of economic freedom across all 50 U.S. states, Canadian provinces, and Mexican states, focusing on the degree to which citizens can engage in unfettered economic activity. New Hampshire’s commitment to minimal government interference, low taxes, and a thriving labor market places it above other states, with South Dakota and Florida following closely. In stark contrast, New York sits at the bottom rung of this index, shackled by excessive regulation and heavy taxation, alongside California and Hawaii.
Alberta leads Canada with a twelfth-place tie alongside several U.S. states, while British Columbia’s position reflects a different approach, ranking lower along with Massachusetts and others. Distinctly, U.S. states dominate nearly all of the top 40 positions, underscoring the relative freedom enjoyed by American citizens compared to their North American counterparts. This data highlights the undeniable success of policies that prioritize individual choice and market-driven decision-making.
The authors of this enlightening report argue convincingly that reducing the regulatory shackles on consumers and businesses catalyzes economic prosperity. They assert that economically liberated regions not only boast higher incomes but also experience more rapid growth. Consider this: from 2013 to 2022, inflation-adjusted income in the freest 25% of jurisdictions surged by 29%, while those burdened by greater government control saw a deleterious decline of 13%. Such statistics underscore the importance of fiscal responsibility and economic freedom.
The correlation between freedom and growth extends beyond mere numbers. States with high economic freedom witnessed population growth ten times faster than their less free counterparts and tripled their employment expansion over the same period. This phenomenon aligns perfectly with the belief that individuals thrive best when they have the autonomy to make economic choices, driven by market incentives and the natural ebb and flow of profit and loss.
In this era of heightened government intervention and regulatory overreach, New Hampshire’s status as the beacon of economic freedom is a testament to the enduring value of conservative principles. It serves as a beacon for those who advocate for limited government interference, affirming that when individuals are trusted to make their own economic decisions, the resulting prosperity benefits not only individuals but society as a whole. As we navigate these tumultuous times, this report reminds us that the path to prosperity is paved with the jewels of liberty and personal responsibility.
