The conservative Heritage Foundation, no friend of socialism, has ranked Canada ahead of the United States in economic freedom, at 7th and 8th place, respectively.
From their 2010 Index of Economic Freedom, the top 10 countries with the most economic freedom in descending order are:
- Hong Kong, Singapore, Australia, New Zealand, Ireland, Switzerland, Canada, United States, Denmark, and Chile.
Ranked by Business Freedom, Trade Freedom, Fiscal Freedom, Government Spending, Monetary Freedom, Investment Freedom, Financial Freedom, Property Rights, Freedom from Corruption, and Labor Freedom, Canada beats the U.S. on 6 out of 10, ties on Investment Freedom, and falls behind only on Government Spending, Monetary Spending, and Labor Freedom.
Particularly embarrassing to the U.S. should be Canada’s ranking of 90% for Property Rights versus 85% for the U.S., given that the U.S. Constitution explicitly provides for just compensation for the taking of property, and the Canadian Constitution does not. Instead, it leaves property rights to the jurisdiction of the provincial legislatures. Even the Chinese Constitution provides for compensation for the taking of property, whereas Canada’s doesn’t.