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Economic Freedom in the United States

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Has the United States become more or less economically free during the past decade? What impact will this have on the future economic growth of the United States?

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Solution Summary

The solutions shows that there was less economic freedom in the U.S. in the past decade. It also briefly illustrated that unless a viable alternative is done, the U.S. will continue to decline as a major economic powerhouse in the world.

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There was less economic freedom in the U.S. in the past decade.

The 2012 Economic Freedom of the World defines a free economy as "the degree to which the policies and institutions of countries are supportive of economic freedom -- with cornerstones including the size of government, personal choice, the freedom to trade internationally and the security of private property" (Fox News Network, 2012).

EFW (2012) noted ...

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