Does economic freedom help explain why the standard of living improves in some countries and declines inothers

Question

Does economic freedom help explain why the standard of living improves in some countries and declines in others?and what contries do you think are really good examples of this?

Despite an overall rise in global standards of living during the last century, conditions have not improved equally in every country. One country's policies and institutions may improve the well being of its people, while another country's policies and institutions lead to decline.

Answer 1

The economic evidence is that it goes both ways.

Countries with market economies and good democratic institutions have higher incomes and higher income growth rates.

But, also, a high standard of living tends to promote economic freedoms. Poorer countries tend to create divisiveness and conflict, which leads to suppression of economic and personal freedoms.

Answer 2

I believe you can find a direct correlation to economic freedom and prosperity.

Those countries with little economic freedom or rampant corruption (which stifles economic freedom) are the poorest.

Countries with great economic freedom and little corruption are universally among the most prosperous.