While theory is important, I suspect most people are more likely to be convinced by real-world evidence.
This is why I frequently compare nations when arguing that free markets and small government are the best way of generating prosperity.
Simply stated, I want people to understand that economic liberty produces faster growth, and that faster growth can make a huge difference, particularly when looking at several decades of data.
Most recently, I showed how Poland is out-pacing Ukraine.
I’ve compared South Korea and North Korea.
The data for Chile, Argentina, and Venezuela is very powerful.
I’ve shown how Singapore has eclipsed Jamaica.
Hong Kong has caught up with the United States.
After looking at these examples, you’ll understand why I’m very happy to share this new video from one of Sweden’s free-market think tanks. It looks at how nations with more economic freedom get better results.
And I particularly like the comparisons of nations that are moving in the right direction versus those that are degenerating toward more statism.
Another good part of the video is that it shows how the European Union could have a very free economy if all nations simply copied the European nation with the best policy in the five major categories of economic liberty (rule of law, fiscal policy, trade, regulation, and monetary policy).