Economic freedom is a vital component of a prosperous society. Defined as the ability to make economic decisions without undue government influence, people in free societies can work, transact, and contract with others, as well as own and use productive property. The United States has traditionally been one of the most economically free countries; however, measures of economic freedom from Freedom House, The Heritage Foundation, and the Fraser Institute in Canada, demonstrate a troubling pattern: over the last 30 years, economic freedom in the United States has declined precipitously.
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