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Economic Freedom of the World 2004 Annual Report: Special Pakistan Edition

Economic Freedom of the World is the most comprehensive index of economic freedom in the world and the only that uses reproducible measures for peer-reviewed research. The 2004 Annual Report explores the evolution of economic freedom over the last quarter century and the impact of economic freedom on people's lives.



As it is, to be successful or profitable, a business venture needs certain freedoms out of which economic freedom is the most crucial. In simple words, economic freedom means, on the one hand, freedom to engage in any economic activity; and on the other, freedom from any external control, be it government or any such authority, which it exerts by regulating and taxing the businesses. Excessive government control results in less and less economic freedom and an unpleasant environment for the growth of overall economy and individual prosperity as well.

The state of economic freedom in Pakistan is not encouraging. Too much regulation and too much taxation and their red-taped implementation are sitting at the entry point of any business activity and hinder their growth. Not only does it interfere with the personal choice of the people; intervenes in the voluntary exchange; and thus restricts the freedom to compete on the part of producers and traders; it increases the cost of starting a business also, and thus creates such an environment that is not conducive to the development of private economic activity in Pakistan catering freely to the needs of people.

Economic Freedom of the World is the most comprehensive index of economic freedom in the world and the only that uses reproducible measures for peer-reviewed research. The 2004 Annual Report explores the evolution of economic freedom over the last quarter century and the impact of economic freedom on people's lives.

It answers many important questions, including:

• Has economic freedom been increasing or decreasing?

• Do poor people benefit when countries become economically free?

• What countries have made big gains in economic freedom in recent years?

• What effect does economic freedom have on prosperity?

• How does economic freedom influence investment?

• How does economic freedom influence productivity?

• What impact does economic freedom have on income inequality?

Download the Economic Freedom of the World 2004 Annual Report (PDF)



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