… is out now. Find India:
I’ve taken the table from Mary Anastasia O’Grady’s comment in the Wall Street Journal, in which she explains:
[T]he evidence is piling up that neither government nor multilateral spending on education and infrastructure are key to development. To move out of poverty, countries instead need fast growth; and to get that they need to unleash the animal spirits of entrepreneurs.
The nearby table shows the 2008 rankings but doesn’t tell the whole story. The Index also reports that the freest 20% of the world’s economies have twice the per capita income of those in the second quintile and five times that of the least-free 20%. In other words, freedom and prosperity are highly correlated.
It really is no surprise why India is still a poor country, is it?
(O’Grady link via Cafe Hayek.)