Democracies usually have lots of economic freedom, but economic freedom is a poor predictor of a country's standard of living.

Question

Quizplus · Accepted Answer

While democracies tend to have more economic freedom, there are many other factors that contribute to a country's standard of living, such as education, infrastructure, and social welfare programs. Thus, economic freedom alone is not a strong predictor of a country's overall well-being.

Democracies Usually Have Lots of Economic Freedom, but Economic Freedom