New Study Calculates Economic Freedom The 2003 Index of Economic Freedom, published jointly by the Heritage Foundation and the Wall Street Journal, grades the nations of the world on their progress toward economic freedom. First published in 1995, the Index tracks the degree to which nations have shifted to greater economic freedom or regressed toward centralized bureaucratic economies. Two Pacific Rim countries, Hong Kong and Singapore, remain the top two nations with world’s "freest" economies followed by Luxembourg and New Zealand (tied for 3rd place). Ireland, Denmark, Estonia, the United States, Australia, and the United Kingdom round out the top ten countries with the world’s freest economies. The 10 least free countries are: North Korea, Cuba, Zimbabwe, Laos, Libya, Belarus, Yugoslavia, Uzbekistan, Burma, and Turkmenistan. In terms of geographic regions, North America and Europe remain the most economically free regions. Despite several Socialist economies in Europe, Estonia and Denmark made impressive gains toward more economic freedom, and Iceland and Sweden joined the ranks of the "free" category for the first time. Sub-Sahara Africa showed improvements in 19 of the region’s countries, but 13 other countries of the region declined. Zimbabwe tops the region’s least-free list. Individual copies of the 428-page 2003 Index are available at $24.95. For more information, call Jim Weidman of the Heritage Foundation (202) 608-6145 or Brigitte Trafford of Dow Jones (609) 520-4110 or visit the Heritage Foundation website: www.heritage.org/Research/TradeandForeignAid/wm174.cfm. Report Predicts Impact Of Campaign Reform Act A new CATO Institute Briefing Paper, This Is Reform? Predicting the Impact of the New Campaign Financing Regulations, says that future elections will become less competitive in the wake of the Bipartisan Campaign Reform Act, which took effect November 6. "New Restrictions on soft money contributions and limitations on campaign advertising in the months prior to an election will end up favoring incumbents and create further hardships for challengers," argues author Patrick Basham. The report notes how the new regulations on soft money will channel funds away from the parties to unregulated entities such as special interest groups, which will likely expand the influence of special interests in election campaigns. Other likely unintended consequences as a result of the new campaign finance law include longer campaigns that are more negative in tone, greater influence of the liberal media elite in the political system, and future election cycles that will favor incumbents and create more difficulties for challengers. "Overall, the allegedly reformed campaign of the future will be less competitive, less controlled by candidates and their parties. . . and will involve fewer voters than the typical campaign of today," Basham concludes. The first legal challenges to the case were heard by a U.S. District Court panel in Washington, D.C., last Wednesday and Thursday. The CATO Briefing Paper (No. 78) is available through the Institute’s web site: www.cato.org/pubs/briefs/bp-078es.html. American Product Book For Patriotic Consumers With the holiday season approaching, discriminating consumers who prefer to buy American products—from clothing to food and beverages—can offer friends and relatives a unique gift: the second edition of How Americans Can Buy American: The Power of Consumer Patriotism by Roger Simmermaker (Rivercross Publishing, Inc.). Simmermaker has come up a consumer guidebook that lists brand-name companies in two general categories—foreign and American-owned. The foreign-based companies are further listed by national origin. In nearly every sector of the economy, Simmermaker offers a comprehensive list of products, good or services that are made by either foreign subsidiaries or American companies. Other chapters explore trade statistics, problems with foreign investment, the new economy, and what the author says are myths about the Smoot-Hawley Tariff. While many free-trade conservatives will take issue with some of Simmermaker’s claims, they still will find much of the book informative. The author covers the distinction between American owned and American made and foreign owned and foreign made. He explains why American consumers should think twice before buying an American brand-name item that was made in China. For more information visit: www.howtobuyamerican.com or P.O. Box 780839, Orlando, Fla. 32878-0839, (888) US-OWNED or (888) 876-9633. Young Conservatives Convene in California Nearly 300 conservative college students converged on Santa Barbara, Calif., the weekend of October 25-26 for the West Coast Leadership Conference (WCLC) sponsored by Young America’s Foundation. Topics this year included media bias, foreign policy, Social Security, principles of leadership, and student activism. Among the guest speakers this year were: Ben Stein, host of "Win Ben Stein’s Money," American Spectator contributor and author of How to Ruin Your Life; Frank Donatelli, chairman of the Reagan Ranch Board of Governors; Mark Larson, popular talk radio host on KRLA in Los Angeles, Calif.; Floyd Brown, executive director of Young America’s Foundations; Star Parker, president of the Coalition on Urban Renewal and Education and author of Pimps, Whores and Welfare Brats; Dan Flynn, author of Why the Left Hates America; Peter Schweizer, author of Reagan’s War, and Michael Reagan, nationally syndicated talk show host. For information about Young America’s Foundation or future Leadership Conferences visit their website: www.yaf.org, e-mail: [email protected], or call toll free: 800-292-9231.
