“Our Economy Needs Freedom”
Minnesotans suffer when business is discouraged
The Timberwolves aren’t the only team making bad calls in Minnesota, says Brian Brenberg, Assistant Professor of Business and Economics at The King’s College. State policy makers are creating a less economically free atmosphere, driving down economic performance and creating more misery in an already tough economy.
In "Our Economy Needs Freedom," Brenberg cites a Fraser Institute report linking economic freedom and performance. “Fraser’s research shows that states and countries with higher levels of economic freedom experience stronger economic growth, lower unemployment, and higher incomes, among other benefits.”
Evidence supporting this claim is strong. Brenberg notes that average income in economically free states is above $53,000, while average income in states with less economic freedom is dramatically less at about $37,000.
This gap is created when business choose to leave Minnesota for states with more competitive tax structures. “Whether businesses move, shrink, close or simply never open,” Brenberg writes, “the result is the same: fewer employment opportunities and lower incomes for Minnesotans.”
To Brenberg, the solution is simple: Minnesotans should demand that state economic policy move in the direction of freedom.
Click here to read the full article on the St. Cloud Times.
The King’s College educates students in the ideas upon which nations rise and fall. With a focused curriculum in the liberal arts tradition, students are prepared to help shape, and eventually to lead, the institutions of government, civil society, media, law, business, education, the arts, and the church. King’s is a Christian college located in New York City.
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