economic freedom

Economic freedom is freedom to produce, trade and consume any goods and services acquired without the use of force, fraud or theft. Economic freedom is embodied in the rule of law, private property rights and freedom of contract, and characterized by external and internal openness of the markets, the protection of property rights and freedom of economic initiative. It is usually associated with a free market system. Numerous empirical studies have found that, among other beneficial effects, economic freedom promotes economic growth and poverty reduction.
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