Every year, the world gets awarded ranks from The Fraser Institute via the Economic Freedom of the World (EFW) Report.

This year’s report shows a bleak reality for the United States – the lowest ranking since 1975.

Economic freedom in the US fell from 6th to 7th.

All countries in the report were negatively affected by COVID-19 and shutdowns. The US took perhaps one of the hardest hits and shows problems that will continue to steal liberty and prosperity if not addressed.

According to Southern Methodist University’s Bridwell Institute clinical professor Dr. Robert Lawson, one of the solutions to helping citizens gain economic freedom and independence requires trust as a culture in communities.

“In rule-based, highly regulated countries, building up trust is much harder.”

Aside from a country that doesn’t facilitate upward mobility or community trust, in the US, there’s not a lot of hope in public discourse.

The American Institute for Economic Research says that what’s needed is a return to classical liberalism, capitalism, and limited government.