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Assessing negative freedom: economic liberty in the long run

Author

Listed:
  • Leandro Prados de la Escosura

    (Universidad Carlos III de Madrid)

Abstract

"This paper presents historical indices for the main dimensions of economic freedom and an aggregate index for nowadays developed countries -(pre-1994) OECD, for short-. Economic liberty expanded over the last one-and-a-half centuries, reaching two thirds of its maximum possible. Its evolution has been, however, far from linear. After a substantial improvement since mid-nineteenth century, World War I brought a major setback. The post-war recovery up to 1929 was followed by a dramatic decline in the 1930s and significant progress took place during the Golden Age but fell short from the pre-World War I peak. A steady expansion since the early 1980s has resulted in the highest levels of economic liberty of the last two centuries. Each main dimension of economic freedom exhibited a distinctive trend and its contribution to the aggregate index varied over time. Nonetheless, improved property rights provided the main contribution to the long-run advancement of economic liberty."

Suggested Citation

  • Leandro Prados de la Escosura, 2014. "Assessing negative freedom: economic liberty in the long run," Working Papers 14010, Economic History Society.
    • Handle: RePEc:ehs:wpaper:14010
    as

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    References listed on IDEAS

    as
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    JEL classification:

    • N10 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - General, International, or Comparative
    • O17 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
    • P10 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - General

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