Why is economic freedom important?
Why is economic freedom important? Because it leads to innovation, risk-taking, entrepreneurship and ultimately, a higher standard of living. This helps alleviate poverty and leads to higher levels of education. Not only that, but successful economies churn out product and profit and tax revenue, which is used to help pay for vital infrastructure such as roads, schools, police, a cleaner environment and social safety nets.
It’s no coincidence that groups like Washington Policy Center advocate for freer economies and streamlined, accountable government. The smaller the tax and regulatory burden on our businesses and entrepreneurs, the more successful they will become. This results in a win-win for folks in the private and public sectors.