The increased use of eminent domain to transfer property to powerful political interests, the ramifications of the wars on terrorism and drugs, and the violation of the property rights of bondholders in the auto-bailout case have weakened the tradition of strong adherence to the rule of law in United States. We believe these factors have contributed to the sharp decline in the rating for the legal-system area.
To a large degree, the United States has experienced a significant move away from rule of law and toward a highly regulated, politicized, and heavily policed state.
– From the Cato/Fraser Institute’s recent report: Economic Freedom of the World in 2012
Every year, Cato and Canada’s Fraser Institute publish a report titled Economic Freedom of the World (EFW), in which they rank countries across the globe based on their economic freedom. The latest report was just released and it covers 2012 data…
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