Economic inequality is often used to justify state intervention in Europe, but historical data suggests economic freedom is more effective in reducing poverty and improving prosperity.
Reviving Europe’s Competitive Edge analyses the European Union’s declining influence in the global economy and recommends concrete steps for the Commission on how to regain our economic competitiveness.
Since the 2019/20 parliamentary year, the Danish Parliament has implemented EU directives that have imposed lasting costs of almost DKK 12 billion per year on Danish businesses.
Nationalism and populism have permeated the sphere of global politics in the 21st century, and the EU is no exception. This particular change in the political environment inevitably causes changes in economic policy, as populist leaders tend to increase governmental spending, focus on more protectionist policies, and raise trade barriers.
The White House’s Council of Economic Advisors (CEA) has published a report: “The Opportunity Costs of Socialism”. It is an interesting report with many relevant findings and conclusions. Its primary focus is describing the (negative) economic consequences of socialism as it was practiced in for example the Soviet Union. The report also includes a section about the Nordic countries including Denmark.
The most obvious benefit of economic freedom is that, as a system, it is the most conducive to widespread prosperity, that is, to high or rising income and consumption for the bulk of the population.