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Wealth & Poverty Review Hong Kong is Number One

Hollywood road Hong Kong.jpg

Sure, Hong Kong is not number one on every scale, but year after year, this former British Protectorate that is now part of the People’s Republic of China, gets first place in the Index of Economic Freedom. (The US has dropped to tenth place.) Hong Kong is crowded, a bit polluted, and the streets with public markets are definitely garish. But it’s also a living testimony to economic freedom. The columnist Deroy Murdock is living in Hong Kong at the moment and gives a terrific overview of the place in National Review. 

The whole thing is worth reading, but I especially like the suggestion of Richard Wong of the Hong Kong Center for Economic Research. For those Americans who think that Hong Kong’s trade policies wouldn’t work for the US, Wong suggests that we show at least as much initiative as the communist leaders of China have shown: allow Hong Kong like policies in one American city, and see what happens. Cool idea, though I’m not holding my breath for the White House to jump on Wong’s advice.

Jay W. Richards

Senior Fellow, Assistant Research Professor, Executive Editor
Jay W. Richards, Ph.D., O.P., is a Research Assistant Professor in the Busch School of Business at The Catholic University of America, a Senior Fellow at the Discovery Institute, and the Executive Editor of The Stream. Richards is author or editor of more than a dozen books, including the New York Times bestsellers Infiltrated (2013) and Indivisible (2012); The Human Advantage; Money, Greed, and God, winner of a 2010 Templeton Enterprise Award; The Hobbit Party with Jonathan Witt; and Eat, Fast, Feast. His most recent book, with Douglas Axe and William Briggs, is The Price of Panic: How the Tyranny of Experts Turned a Pandemic Into a Catastrophe.