Why Economic Freedom Matters: Digging into the Principles
To better comprehend why a positive relationship between economic freedom and environmental performance exists, it is important to dig deeper into what aspects of policy make a country economically free. We know why a country scores highly on the Index of Economic Freedom. As measured by the Heritage Index, a country would have a strong […]
Comparing the Dominican Republic and Haiti – A natural experiment.
A striking example of how different economic and political philosophies influence climate adaptation is seen with the paths taken by the Dominican Republic and Haiti. Although there are some geographic differences, the two countries share the same island, Hispaniola. As recently as 60 years ago, the countries’ gross domestic product (GDP) per capita were roughly […]
Stronger Economies are More Resilient Ones
More wealth also enables communities to build more resilient infrastructure and production and adapt to a changing climate. Constructing stronger levees, sea walls, and more resilient infrastructure have helped save lives and protect communities. Freer, wealthier economies also have better access to advanced technologies that more accurately communicate the risk of natural disasters and aid […]
Economic Freedom Equals Wealth and Wealth Equals Health
One of the primary reasons that economic freedom has a positive correlation with other important human and societal quality metrics is because economically free countries have higher levels of per capita income. Citing a literature review of the role economic freedom has had on wealth, the Fraser Institute’s report emphasizes that, “Virtually without exception, these […]
The Relationship Between Economic Freedom and Environmental Performance
An environmental mantra that nearly everyone can endorse is that each should work to “leave the campground cleaner than when you got there.” As Scout Movement founder Robert Baden-Powell said, “Try and leave this world a little better than you found it.”1 Of course, tidying up a campground is one thing. Many of the environmental […]
Free Economies are Clean Economies
Introduction “The point of calling attention to progress is not self-congratulation but identifying the causes so we can do more of what works.” -Steven Pinker, Enlightenment Now (2018) 1 In his November 2020 essay Political Freedom and Human Prosperity, Stanford University professor Larry Diamond concluded that democracy “is the best system for delivering human prosperity.” […]
Free Economies are Clean Economies
Foreword by Edwin J. Feulner, PhD. Business school students learn that “what gets measured gets improved.” That insight is often attributed to management guru Peter Drucker, but it makes so much sense that many business leaders have applied it across the decades. The concepts of “measuring” and “improving” were on our minds at The Heritage […]
Opportunities for Competitive Policy Mechanisms to Improve Carbon Dioxide Removal
Introduction Advances in carbon dioxide removal (CDR) technology are generating new debate around the role of government in their adoption. To date, public policy mechanisms like grants and tax credits have subsidized this technology, but questions linger about whether improved policy mechanisms could accelerate the adoption of CDR at a lower cost to the public. […]
Empowering America’s Farmers and Ranchers
The Challenge: Farmers and ranchers are on the front lines as the climate changes. Warming affects crop seasons, soil nutrition, and erosion. Extreme weather such as droughts, heat waves, and floods can ruin crops. Land-use changes, production, livestock management, fertilizer use, and transportation increase carbon dioxide, methane, and nitrous oxide emissions. The Opportunity: American farmers […]
Economic Freedom is the Foundation for Innovation and Efficiency
Introduction Political candidates don’t talk like this very much anymore: In his Earth Day speech in 1992, then-presidential candidate President Bill Clinton said, “I believe it is time for a new era in environmental protection, which uses the market to help us get our environment back on track—to recognize that Adam Smith’s invisible hand can […]