They say insanity is doing the same thing and expecting different results. Well, Michigan has been doing the same policy things for a long time, and the results continue to go badly. As it turns out, policies that reduce economic freedom are a bad thing (who knew??).
Here are Five Fast Facts on freedom being economically good:
- 🤷 Meh Score - Michigan currently sits at a very mediocre 31st on an objective index that measures overall economic liberty, which is basically like "winning" a participation trophy. It hasn't been above the national average since at least 2006.
- 📉 Job Growth (Or Not) - Since the year 2020, Michigan has shockingly ranked 47th in the entire nation for job growth, suggesting the Mitten State's taking an extended economic nap.
- 📈 The Link - Research shows that a 10% boost in a state's economic freedom is directly linked to a cool 5% increase in its real per-capita gross state product. Apparently, less government nagging means fatter wallets!
- 💨 Have Opportunity, Will Travel - From 2014-2023, the freest states in America experienced an astonishing 18 times more population growth than the least free states, proving the old saying that people vote with their feet! Even the local deer are considering moving away.
- 💪 Not Rocket Science - Lower taxes, fewer regulations, and policies that encourage entrepreneurship and investment would help businesses create more jobs instead of spending time filling out paperwork that is the modern-day equivalent of being medievally drawn and quartered, but with more staples.
🔥Bottom line: The good news is that economic freedom is a choice. Michigan doesn't need to hope or guess or wave a magic wand...it just needs different policies. Do the things that put more money into people's pockets, and the rest will take care of itself.
What do you think causes economic freedom?
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