Economic Policy News

Having recently unveiled its final report, The Heritage Foundation’s National Coronavirus Recovery Commission offered a clear pathway to America’s economic rebound with specific, actionable recommendations for policymakers. Highlighting the interwoven critical linkage between good public health policy and sound economic policy, the commission’s final report underscored the importance of economic freedom to our recovery efforts:…

Reflecting the current global economic slowdown, the latest statistics show that America’s trade with Canada and Mexico, the two largest trading partners of the U.S., has plummeted by more than 40% since last year. According to the latest U.S. Census Bureau data, when compared with the previous April, U.S. trade with Canada and Mexico dropped by 43% and 46%, respectively.  Undoubtedly, the three North American trade…

India’s reported number of coronavirus cases has been surprisingly low, given the country’s huge and highly dense population. Experts think there are a number of factors that could be contributing to the low infection rates, but as a Heritage Foundation colleague summed up concisely: “Unfortunately, we don’t have a solid answer.” When it comes to…

Economic freedom has been growing rapidly in Bulgaria, one of Eastern Europe’s least heralded reformers. The country’s score in the latest edition of The Heritage Foundation’s annual Index of Economic Freedom is 70.2 (on a 0-100 scale), making its economy the 36th freest out of 180 countries measured. Bulgaria’s score has climbed a total of…

Until the global economy was hobbled by the coronavirus pandemic, oil production was booming in Azerbaijan. The country’s vast hydrocarbon and other natural resources—the backbone of its economy—were enabling it to serve as a significant alternative to Russia for oil and gas. That in turn has helped Europe’s energy security and, by association, the security…

A new study by the United Nations Conference on Trade and Development, “Gender and Trade,” considers the impact of trade on women and notes that effective trade policy “works in tandem with domestic policy to support women’s economic empowerment.” More specifically, the report highlights the importance of market structure and institutional quality in shaping the…

Argentina’s economic freedom score increased slightly this year. But as the 149th-freest out of 180 countries graded in the 2020 edition of The Heritage Foundation’s annual Index of Economic Freedom, Argentina remains in the bottom rankings of mostly unfree and repressed economies. The policies of the current leftist government in Buenos Aires threaten to sink…

The steps we take to reopen America safely will determine whether the United States has to contend with an economic depression—regardless of whether COVID-19 is suppressed in the next several months or the next year. How we build on those steps will not just be critical in restarting the American economy, but also could help…

Paraguay has solidified its status as a “moderately free” economy, according to The Heritage Foundation’s recently released 2020 Index of Economic Freedom. Ranked 80th out of 180 countries worldwide, Paraguay is the 15th-freest country in the Western Hemisphere. At first glance, Paraguay appears an unlikely prospect to stand out as a notable emerging market. In…

Estonia is a shining example of why freedom matters. Since the fall of the Soviet Union, this tiny northern Baltic country that shares a border with Russia has made huge progress in implementing democracy and economic freedom and in developing a strong national defense. Estonia has aligned itself with the West—particularly the United States—and since…

It's economic freedom that will save the earth. Apart from health care, no other big government policies and actions are more intrusive and economically distortionary than environmental regulations. Rather than relying on civil society, free markets, and a free press to ensure environmental quality and safeguards, a myriad bureaucrats and agencies in governments and international…

As our national lockdown drags on, Americans seem less and less inclined to move swiftly toward societal reopening. Perhaps that’s due to the consistent media focus on the risks of reopening. Perhaps that’s also due to the psychological comfort of the status quo: When we’ve been made to feel safe in our home, it’s difficult…

Kazakhstan recorded the fifth-largest gain in economic freedom of any country in the world over the past year, according to The Heritage Foundation’s 2020 Index of Economic Freedom. The country’s score (69.6 on a 0-100 point scale) puts it on the threshold of earning the index’s coveted “mostly free” designation. Ranked as having the 39th-freest…

The National Governors Association recently asked Congress for a bailout of $500 billion in addition to the more than $200 billion included in the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The money sought by the governors would be “unrestricted,” meaning its use need not be tied directly to COVID-19, the disease caused by…

In her recent column, Heritage Foundation President Kay C. James offered a timely message on why economic freedom matters more than ever. As she emphasized: The debate in the United States over whether to move away from free markets and toward socialism may change dramatically as the latest coronavirus spreads throughout the world. That’s because…

Ranked 60th in the world (out of 180 countries), Slovakia’s economic freedom score increased slightly in The Heritage Foundation’s 2020 edition of the Index of Economic Freedom. But the country’s economy remains stalled in the index’s “Moderately Free” category, where it has been for a decade. After it gained independence from the former Czechoslovakia in…

Governments around the world are responding to the coronavirus epidemic with a variety of measures that have the potential to curtail economic activity. It’s vital that such actions be temporary and of as short a duration as possible. Government restrictions and regulations have a tendency to outlast—sometimes for decades—the crises they were implemented to address….