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Canada rises to Top Five in world economic freedom ranking as U.S. plummets to 18th

Canada has taken its place among the Top 5 countries with the most economic freedom, according to a new Fraser Institute report — now leaps and bounds ahead of the United States thanks to the gradual shrinking of the Canadian government since the mid-1990s as America’s just got bigger.

The annual Economic Freedom of the World report, released Tuesday, has Canada tied in fifth place with Australia — up one spot from last year. Hong Kong remains at the top, Singapore’s next, then New Zealand.

Meanwhile, the United States, once a “standard bearer” of economic liberty among industrial nations, spiralled 10 spots from the 2011 rankings to 18th place — its lowest position ever, and a huge drop from its second place spot in 2000.

Source: National Post

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