Ohio Scores Poorly on Economic Freedom in New Report
The Buckeye Institute Releases “Economic Freedom of North America 2015”
The Buckeye Institute and the Fraser Institute released an economic freedom ranking of every state and province in North America. According to the new report, Ohio ranks 40th among the 50 United States in economic freedom, held back by high government spending on public employee pensions, workers’ compensation, and social programs.
Economic Freedom of North America 2015 ranks jurisdictions based on their levels of economic freedom (as measured by government spending, taxation, and labor market restrictions) using data from 2013, the most recent year of available data.
“Despite important tax reforms, Ohio’s economy remains shackled to the detrimental policies of the past, which continue to hinder economic prosperity and freedom in our state,” says Rea S. Hederman, Jr., Executive Vice President of The Buckeye Institute. “It’s no coincidence that neighboring states that have expanded freedom are enjoying more economic growth than Ohio has in recent years.”
The Fraser Institute has measured economic freedom in every state and province in the United States, Canada, and Mexico for eleven years, creating a comprehensive assessment of trends in economic freedom. The Buckeye Institute and its Economic Research Center are co-publishing this prestigious report for the first time and adding in-depth analysis of Ohio’s economy as well.
The Fraser Institute and The Buckeye Institute are independent think tanks that research and advocate free market economic policies. The Buckeye Institute’s Economic Research Center specializes in data analysis of state-level economic policies.