Economic Freedom: The Secret to Prosperity and Growth?

How does economic freedom shape prosperity and well-being? In this episode of Enterprise Explores, Dr. Carmelo Ferlito, CEO of the Center for Market Education, unpacks insights from the Fraser Institute’s Economic Freedom of the World 2024 Report.

We explore Malaysia’s ranking, the challenges behind declining global economic freedom, and why sound monetary policies, strong legal systems, and balanced regulations are critical for fostering innovation, reducing poverty, and driving growth.

Here are some highlights from the conversation:

- Malaysia’s Ranking: 29th globally with a score of 7.56, reflecting strengths in sound money and international trade, but room for improvement in legal systems.

- Global Trends: Declining economic freedom worldwide over three years, reversing a decade of progress.

- Critical Drivers: Sound money, strong legal systems, and streamlined regulations are essential for fostering innovation and reducing poverty.

- Future Outlook: Strategies for balancing economic freedom with regulation and stability in a rapidly evolving global economy.