Berggren, Niclas (2003). ”The Benefits of Economic Freedom: A Survey.” The Independent Review, 8(2): 193-211.
Abstract: The most ambitious study of its kind, the Economic Freedom Index (EFI), published annually in Economic Freedom of the World, has inspired scholars to examine more closely the effect of economic freedom on economic growth, income equality, and quality of life. Although not without limitations, the EFI supports Adam Smith’s contention that free-market processes, more than any alternatives, can advance wealth and welfare.
Related content: Working Paper No. 4