Canadians Have Less Economic Freedom Today Than Four Decades Ago: Study

Canadians today have less freedom to decide what to buy, where to work, and whether to start a business than they did in the late 1970s, partly due to the size of government, which has grown since the pandemic, a new study suggests.
“Canadians should understand that lower levels of economic freedom depress investment, hamper economic growth, and lead to less economic opportunity for workers,” said Matthew Mitchell, senior fellow at the Fraser Institute and one of the authors of the report. “After decades of research, we now know that when people are more economically free, they enjoy higher standards of living.”
Economic freedom measures openness to trade, tax and regulatory burdens, government spending, and the soundness of a country’s money, according to the authors.
In 2020, Canada ranked 125th in the world in size of government, with a lower ranking indicating larger government, said the report. That was a drop of 54 places since 2014.
The authors also analyzed the relationship between economic freedom and major social indicators.
Conversely, compared to the freest places, in the 25 percent least economically free jurisdictions, infant mortality is nine times greater, extreme poverty is 30 times more likely, approximately 20 percent of girls aged 15 to 24 are illiterate, and corruption is higher.
“Where people are free to pursue their own opportunities and make their own choices, they lead more prosperous, happier and healthier lives,” Mitchell said.