What makes us happy?
Tim Worstall looked at an OECD report Your Better Life which showed 16 countries ranked better than the USA and found:
The most obvious point is that higher taxes and a larger welfare state don’t provide the answer.
He looked further and found that, with the exception of France, all the countries which were higher up the better life index than the USA also had more economic freedom.
So, now we have it, now we know what it is that makes countries happy, happier than the United States. Free trade, property rights and the rule of law.
When it’s as simple as that, why would anyone try to block free trade, weaken property rights or undermine the rule of law?
P.S. The Better Life Index for New Zealand is here.