The Washington-based Cato Institute has released its "Economic Freedom of the World: 2004 Annual Report", produced in conjunction with the Fraser Institute of Canada.
Key ingredients of economic freedom valued were personal choice, voluntary exchange, freedom to compete and protection of person and property. "Institutions and policies are consistent with economic freedom when they provide an infrastructure for voluntary exchange and protect individuals and their property from aggressors seeking to use violence and coercion and fraud to seize things that do not belong to them."
The report also says governments play an important role in economic freedom when they facilitate access to sound money, "but economic freedom requires government to refrain from many activities," such as interfering with freedom to enter and compete in labor and product markets.
