Contest: What to Measure?
By Arnold Kling
Win the Fraser Institute’s Money. They want you to enter a contest about what to measure in order to improve public policy.
In Be The Solution, Michael Strong cites the Fraser Institute’s measures of economic freedom and how well they predict wealth. He writes (p. 176-178),
the architects of the Fraser Economic Freedom Index strove to create an objective set of measurable criteria against which the overall levels of economic freedom within nations could be compared over time…
The issue of Size of Government is by far the largest difference between Scandinavia and the United States. If one looks at the other four categories, however, it turns out that the Scandinavian average, 8.26, is almost exactly idential to the U.s. average, 8.27…
Since 1980, all the Scandinavian nations have increased their levels of economic freedom, whereas economic freedom increased in the United States until the year 2000…after eight years of President George W. Bush, economic freedom has steadily decreased.