"What Caused America's Recent Prosperity?"
"We are experiencing the longest period of positive economic growth in U.S. history. We are in the 9th year of an economic expansion, which has substantially increased wealth and economic well-being throughout the U.S., and has positively impacted the world economy. A very natural question is why have we had such a long period of excellent growth? Understanding the reason for this positive trend will provide some insight into what the future may look like." "The primary cause of the worldwide improvement in the standard of living has been increased economic freedom. Throughout human history, the single biggest factor correlated with improving economic well-being has been economic freedom. When economic freedom is increasing the standard of living is raising. When economic freedom is decreasing, the standard of living is falling." "The philosophical pillars of economic well being: reason, individual rights (property rights), and free markets (capitalism)."
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