Welcome to the fourth series of the Political Economic Digest.
In the last series we discussed about private property rights. We discussed why secure private property rights were crucial for economic growth and development. We learned that lack of secured property rights is one of leading causes in keeping poor people poor.
In this series, we’ll be discussing about economic freedom and its role in the economic progress of a society. Among the three kinds of freedom-political, civil and economic, economic freedom is considered the most important freedom required for prosperity and it is one of the most ignored one in our context.
The first reading is an introduction to economic freedom and its importance compiled by Samriddhi, The Prosperity Foundation. It describes what is economic freedom and its components. It also contains an introduction to, “Economic Freedom of the World Report” and the history behind its creation.
The second reading is an article entitled “Nepal in the economic freedom report of 2011” where the author has explained the poor performance of Nepal in the various components of economic freedom and what Nepal could do to improve its performance.
Read more in the uploaded file.