The second graph (I wont post it) is insignificant. It shows a slope of 0.04, and the result is statistically insignificant. Used data from Mercatus and the Census.
However, the Mercatus authors have noted that freedom, in their study, is correlated with increased wealth, migration from states into the area (for example, New York has many people--not just retirees--moving to the more free state of Florida). The study finds that the growth is stronger in areas where the state is more free. Comparing rates is a flawed concept. Why? Because, for example, the states which are unfree may have been wealthy before tightening markets. Although tightening their markets may have harmed their outlook, they still place above free states with a basic comparison. Therefore, a better way to judge success is growth. You can see these results yourself on line.
http://freedominthe50states.org/print
Further, the Fraser study, using comparisons, finds that on balance using their measurements areas under a free market--using comparisons/cross-sectional data--are wealthier than those who are less free.
This study, which reviews 45 studies on freedom versus economic output, has found panel data and cross sectional data both support the view more freedom, more money. (http://biblioeco.unimo.it/ext/Copertine%20LibroMese/marzo11/EJPE.pdf)
However, the Mercatus authors have noted that freedom, in their study, is correlated with increased wealth, migration from states into the area (for example, New York has many people--not just retirees--moving to the more free state of Florida). The study finds that the growth is stronger in areas where the state is more free. Comparing rates is a flawed concept. Why? Because, for example, the states which are unfree may have been wealthy before tightening markets. Although tightening their markets may have harmed their outlook, they still place above free states with a basic comparison. Therefore, a better way to judge success is growth. You can see these results yourself on line.
http://freedominthe50states.org/print
Further, the Fraser study, using comparisons, finds that on balance using their measurements areas under a free market--using comparisons/cross-sectional data--are wealthier than those who are less free.
This study, which reviews 45 studies on freedom versus economic output, has found panel data and cross sectional data both support the view more freedom, more money. (http://biblioeco.unimo.it/ext/Copertine%20LibroMese/marzo11/EJPE.pdf)
No comments:
Post a Comment