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Economic freedom matters.
Economic freedom may not sound relevant to everyday life, but economics involves an essential part of our social life: our exchange of goods and services with others. Freedom in this area means allowing everyone to make his or her own decisions, so long as those decisions don't threaten the lives, property or liberty of others.
Economic freedom brings energy and meaning to human life. Restraints on economic freedom can be damaging. It's found that the economically freest countries are not only wealthier, with more dynamic economies, but also have lower unemployment, greater political liberty, higher life expectancies and fewer children in the labor force.
No country has a perfectly free economy, and even the most free — Hong Kong, Singapore, New Zealand, Switzerland, the United States and Ireland — still impose numerous controls on individuals' decisions. But these economies, though not fully free, demonstrate the power of even partially unfettered cooperation and exchange.