Saturday, June 8, 2013

The decline in U.S. institutional quality

  • 433: Total number of days it takes in the U.S. to start a business, register a property, pay taxes, get an import and export license and enforce a contract
  • 368: Total number of days it took to do the same in 2006
  • 7: U.S. ranking, out of 144 countries, on the World Economic Forum's 2012-2013 Global Competitiveness Index
  • 1: U.S. ranking on the 2008-2009 Global Competitiveness Index
  • 33: U.S. ranking for its legal system and property rights in 2010 on the Fraser Institute's Economic Freedom index, out of 144 countries
  • 9: U.S. ranking for its legal system and property rights in 2000
Sources: 'Doing Business'; World Economic Forum; Fraser Institute
--Niall Ferguson, WSJ, on bureaucratic decline