1. The Economic Freedom ofThe Economic Freedom of
the World: 2010 Reportthe World: 2010 Report
Economic Freedom Overview:
Benefits, Arab and World data,
and Index Comparisons.
Fred McMahon
Vice-president International Research
The Fraser Institute

2. Economic Freedom of theEconomic Freedom of the
World ProjectWorld Project
• Objective: find a way to measure economic
freedom and explore the connection
between it and other variables
• 30 year project
• Led by the late Milton Friedman and Rose
Friedman, and Michael Walker
• Involved 60 of the world’s top scholars

3. What is the EconomicWhat is the Economic
Freedom of the World Index?Freedom of the World Index?
• An annual compilation of data representing factors
which make a country economically free
• Authors: James Gwartney, Robert Lawson, and Joshua
Hall
• A compendium of 42 government policies affecting
economic freedom based on objective data or
independent surveys
• A ranking of 141 countries representing 95% of the
world’s population according to the extent to which they
permit their citizens to be economically free
• Now a collaboration of Institutes in 80 nations and
territories

4. What is Economic FreedomWhat is Economic Freedom
Individuals have economic freedom when
property they acquire without the use of force,
fraud, or theft is protected from physical
invasions by others and they are free to use,
exchange, or give their property as long as
their actions do not violate the identical rights
of others. An index of economic freedom
should measure the extent to which rightly
acquired property is protected and individuals
are engaged in voluntary transactions.
James Gwartney et al. 1996

5. Components of the EconomicComponents of the Economic
Freedom of the World IndexFreedom of the World Index
• Size of government and taxation
• Private property and the rule of law
• Soundness of money
• Trade regulation and tariffs
• Regulation of business, labour and
capital markets
Based entirely on objective, third party
data and independent surveys for 141
countries

6. The Fraser Index Compared
to the Competition

7. USAID MISSION/CAIRO:
ECONOMIC FREEDOM INDICES
• The Fraser non-quantitative variables are in
fact transparent and because of this, they are
replicable. In each case, the Fraser analysts
explain how they obtained and scored these
variables—and, of course, …
• The Heritage report's quantitative variables
are much less transparent and, as a result are
not reliably replicable by outsiders several of
the Heritage non-quantifiable variables are
overlapping (even redundant) in nature.

8. USAID MISSION/CAIRO:
Continued
The argument for preferring the Fraser … index to the Heritage
method is as follows:
• First, the Fraser Index is decidedly less ideological in
composition and more strongly based in economic theory …
• Second, its methodology has consistently been far more
transparent;
• Third, the Fraser analysts see their index as an evolving tool,
introducing methodological modifications in each succeeding
report as continuing research may indicate—and doing so in
transparent fashion;
• Fourth, the lengthy time series of Fraser Index values for
Egypt give us a 'track record' that can be compared to actual
historical conditions;
• Finally, the Fraser analysts confine their efforts to a smaller
sample of countries, which may be possibly indicative of
greater care and selectivity in the use of available data.

9. The World and Arab Indexes

10. Talk about making a difference …Talk about making a difference …

11. Albanian Center for EconomicAlbanian Center for Economic
Research (ACER), AlbaniaResearch (ACER), Albania
Fundación Libertad, ArgentinaFundación Libertad, Argentina
Institute of Public Affairs, AustraliaInstitute of Public Affairs, Australia
TIGRA®, AustriaTIGRA®, Austria
Center for Economic and PoliticalCenter for Economic and Political
Research,AzerbaijanResearch,Azerbaijan
The Nassau Institute, BahamasThe Nassau Institute, Bahamas
Making Our Economy Right (MOER),Making Our Economy Right (MOER),
BangladeshBangladesh
Scientific Research Mises Center,Scientific Research Mises Center,
BelarusBelarus
Centre for the New Europe, BelgiumCentre for the New Europe, Belgium
Fundacion Libertad y DemocraciaFundacion Libertad y Democracia
(FULIDE), Bolivia(FULIDE), Bolivia
Instituto Liberal do Rio de Janeiro,Instituto Liberal do Rio de Janeiro,
BrazilBrazil
Institute for Market Economics,Institute for Market Economics,
BulgariaBulgaria
Le Centre des Affaires HumainesLe Centre des Affaires Humaines
(CEDAH),Burkina Faso(CEDAH),Burkina Faso
The Cambodia Institute of DevelopmentThe Cambodia Institute of Development
Study, CambodiaStudy, Cambodia
Instituto Libertad y Desarrollo, ChileInstituto Libertad y Desarrollo, Chile
Instituto Libertad y Progreso (ILP),Instituto Libertad y Progreso (ILP),
ColombiaColombia
Instituto para la Libertad y el AnálisisInstituto para la Libertad y el Análisis
de Políticas, Costa Ricade Políticas, Costa Rica
The Institute of Economics, CroatiaThe Institute of Economics, Croatia
Liberální Institut, Czech RepublicLiberální Institut, Czech Republic
Center for Politiske Studier (CEPOS),Center for Politiske Studier (CEPOS),
DenmarkDenmark
Fundación Economía y Desarrollo Inc,Fundación Economía y Desarrollo Inc,
Dominican RepublicDominican Republic
Instituto Ecuatoriano de EconomíaInstituto Ecuatoriano de Economía
Política,EcuadorPolítica,Ecuador
International University Audentes,International University Audentes,
EstoniaEstonia
Center for Business and Society Incorporated (Civita),Center for Business and Society Incorporated (Civita),
NorwayNorway
International Research Foundation (IRF), OmanInternational Research Foundation (IRF), Oman
Alternate Solutions Institute, PakistanAlternate Solutions Institute, Pakistan
Pal-Think for Strategic Studies, PalestinePal-Think for Strategic Studies, Palestine
Fundación Libertad, PanamaFundación Libertad, Panama
Centro de Investigación y Estudios Legales (CITEL),Centro de Investigación y Estudios Legales (CITEL),
PeruPeru
The Center for Research and Communication,The Center for Research and Communication,
PhilippinesPhilippines
Centrum im. Adama Smitha, PolandCentrum im. Adama Smitha, Poland
Causa Liberal, PortugalCausa Liberal, Portugal
Romania Think Tank, RomaniaRomania Think Tank, Romania
Institute of Economic Analysis, RussiaInstitute of Economic Analysis, Russia
Free Market Center (FMC), SerbiaFree Market Center (FMC), Serbia
The F.A. Hayek Foundation, Slovak RepublicThe F.A. Hayek Foundation, Slovak Republic
The Free Market Foundation of Southern Africa, SouthThe Free Market Foundation of Southern Africa, South
AfricaAfrica
Pathfinder Foundation, Sri LankaPathfinder Foundation, Sri Lanka
Timbro, SwedenTimbro, Sweden
Liberales Institut, SwitzerlandLiberales Institut, Switzerland
Arthur Lok Jack Graduate School of Business, TheArthur Lok Jack Graduate School of Business, The
University of the West Indies, Trinidad, W.I.University of the West Indies, Trinidad, W.I.
Association for Liberal Thinking, TurkeyAssociation for Liberal Thinking, Turkey
The Ukrainian Center for Independent PoliticalThe Ukrainian Center for Independent Political
Research, UkraineResearch, Ukraine
The Institute of Economic Affairs (IEA), UnitedThe Institute of Economic Affairs (IEA), United
KingdomKingdom
CATO Institute, USACATO Institute, USA
The Centre for the Dissemination of EconomicThe Centre for the Dissemination of Economic
Knowledge (CEDICE), VenezuelaKnowledge (CEDICE), Venezuela
Research Center for Entrepreneurship Development,Research Center for Entrepreneurship Development,
VietnamVietnam
Zambia Institute for Public Policy Analysis (ZIPPA),Zambia Institute for Public Policy Analysis (ZIPPA),
ZambiaZambia
Member Institutes of Economic Freedom of
the World Network
Liberales Institut, GermanyLiberales Institut, Germany
The Institute of Economic Affairs, GhanaThe Institute of Economic Affairs, Ghana
Centro de Investigaciones EconómicasCentro de Investigaciones Económicas
Nacionales, GuatemalaNacionales, Guatemala
Institut de Recherche pour la LiberteInstitut de Recherche pour la Liberte
Economique et la Prosperite (IRLEP), HaitiEconomique et la Prosperite (IRLEP), Haiti
Hong Kong Centre for Economic Research,Hong Kong Centre for Economic Research,
Hong KongHong Kong
Szazadveg Foundation, HungarySzazadveg Foundation, Hungary
Centre for Social and Economic ResearchCentre for Social and Economic Research
(RSE), Iceland(RSE), Iceland
Centre for Civil Society, IndiaCentre for Civil Society, India
The Institute for Development of EconomicsThe Institute for Development of Economics
and Finance, Indonesiaand Finance, Indonesia
Open Republic Institute, IrelandOpen Republic Institute, Ireland
Jerusalem Institute for Market Studies, IsraelJerusalem Institute for Market Studies, Israel
Centro Einaudi, ItalyCentro Einaudi, Italy
Bureau d'Analyse d'Ingenierie et de LogicielsBureau d'Analyse d'Ingenierie et de Logiciels
(BAILO), Ivory Coast(BAILO), Ivory Coast
Young Entrepreneurs Association, JordanYoung Entrepreneurs Association, Jordan
African Research Center for Public PolicyAfrican Research Center for Public Policy
and Market Process, Kenyaand Market Process, Kenya
Center for Free Enterprise, KoreaCenter for Free Enterprise, Korea
Economic Policy Institute-BishkekEconomic Policy Institute-Bishkek
Consensus, Kyrgyz RepublicConsensus, Kyrgyz Republic
Lithuanian Free Market Institute, LithuaniaLithuanian Free Market Institute, Lithuania
D'Letzeburger Land, LuxembourgD'Letzeburger Land, Luxembourg
Centro de Investigación para el DesarrolloCentro de Investigación para el Desarrollo
A.C.,A.C., MexicoMexico
Open Society Forum, MongoliaOpen Society Forum, Mongolia
The Center for Entrepreneurship andThe Center for Entrepreneurship and
Economic Development, MontenegroEconomic Development, Montenegro
The Prosperity Foundation, NepalThe Prosperity Foundation, Nepal
The New Zealand Business Roundtable, NewThe New Zealand Business Roundtable, New
ZealandZealand
Initiative for Public Policy Analysis, NigeriaInitiative for Public Policy Analysis, Nigeria

12. 1) Sample of Press Coverage for
Fraser Institute’ Economic Freedom of the World 2009
A Traves De VenezuelaA Traves De Venezuela
About.com:MarketsAbout.com:Markets
africaFMafricaFM
African ExecutiveAfrican Executive
Alerta VenezuelaAlerta Venezuela
Alibaba.com NewsAlibaba.com News
AlphaTrade FinanceAlphaTrade Finance
AlWatan DailyAlWatan Daily
AOL Money & FinanceAOL Money & Finance
Bahamas WeeklyBahamas Weekly
Balkaninsight.comBalkaninsight.com
Baltic Business DailyBaltic Business Daily
Better Trends FinancialBetter Trends Financial
LiveLive
Brisbane TimesBrisbane Times
Business DayBusiness Day
Business MirrorBusiness Mirror
Business TimesBusiness Times
Business World OnlineBusiness World Online
BusinessWorldBusinessWorld
CabalamuseCabalamuse
Catamacra es noticiaCatamacra es noticia
CBC-rCBC-r
cdnews.com.twcdnews.com.tw
China BusinessChina Business
GuardianGuardian
Guía VenezuelaGuía Venezuela
Gulf Daily NewsGulf Daily News
HaaretzHaaretz
Herald MediaHerald Media
Hong Kong Economic JournalHong Kong Economic Journal
Hong Kong TraderHong Kong Trader
Hospodářské NovinyHospodářské Noviny
Illinois Daily HeraldIllinois Daily Herald
Individual.comIndividual.com
Institutional InvestorInstitutional Investor
Instituto Ecuatoriano de EconomInstituto Ecuatoriano de Econom
PoliticaPolitica
InvertiaInvertia
Invertia PeruInvertia Peru
Invertia VenezuelaInvertia Venezuela
investujemeinvestujeme
IStock AnalystIStock Analyst
IWF InkwellIWF Inkwell
Jakarta PostJakarta Post
Jerusalem PostJerusalem Post
Khaleej Times OnlineKhaleej Times Online
Knowledge ProblemKnowledge Problem
Korea TimesKorea Times
La Manana CórdobaLa Manana Córdoba
China Weekly NewsChina Weekly News
Citizen EconomistsCitizen Economists
CNBCCNBC
CNBC European BusinessCNBC European Business
Columbia StarColumbia Star
CPI FinancialCPI Financial
Diario el FinancieroDiario el Financiero
Economia y Negocios OnlineEconomia y Negocios Online
Economics RoundtableEconomics Roundtable
EconomistEconomist
El Espectador UruguayEl Espectador Uruguay
El NacionalEl Nacional
El Paso TimesEl Paso Times
Elsigloweb.comElsigloweb.com
eMediaWorld.comeMediaWorld.com
Entorno InteligenteEntorno Inteligente
Entorno Inteligente.comEntorno Inteligente.com
Epochtimes.com (Australia)Epochtimes.com (Australia)
Fairchild RadioFairchild Radio
Finanz und WirtschaftFinanz und Wirtschaft
Foreign PolicyForeign Policy
Frenos & ContrapesosFrenos & Contrapesos
Gazeta.pl GospaoarkaGazeta.pl Gospaoarka
GCPNews.comGCPNews.com
gigapedia.comgigapedia.com
Global TimesGlobal Times

13. 2) Sample of Press Coverage for
Fraser Institute’ Economic Freedom of the World 2009
L'agefiL'agefi
latercera.comlatercera.com
Lepetitjournal.comLepetitjournal.com
Libertad y DesarrolloLibertad y Desarrollo
L'Orient le JourL'Orient le Jour
Macau BusinessMacau Business
Mail & GuardianMail & Guardian
Market WireMarket Wire
Mediafax News BriefMediafax News Brief
Service BucharestService Bucharest
Middle East Company NewsMiddle East Company News
Minuto59Minuto59
MNNews & MinaMNNews & Mina
Montenegrin NewsMontenegrin News
Money WebMoney Web
Moneyworks.aeMoneyworks.ae
MSN MoneyMSN Money
Mumbai MirrorMumbai Mirror
Národná ObrodaNárodná Obroda
National Business ReviewNational Business Review
Nepal NewsNepal News
NewsRoomAmerica.comNewsRoomAmerica.com
Newstin.aeNewstin.ae
Noticia Al DiaNoticia Al Dia
NoviniteNovinite
Observer (Oman)Observer (Oman)
Oman DailyOman Daily
Sydney Morning HeraldSydney Morning Herald
SYS-CON IndiaSYS-CON India
Taiwan NewsTaiwan News
TalCualDigital.comTalCualDigital.com
The Standard (HK)The Standard (HK)
Times of OmanTimes of Oman
Tlačová Agentúra Slovenskej RepuTlačová Agentúra Slovenskej Repu
Trade ArabiaTrade Arabia
TribuneTribune
Tripoli PostTripoli Post
Tu Noticiero Digital.comTu Noticiero Digital.com
VeraSage InstituteVeraSage Institute
Voice OnlineVoice Online
VoxEU.orgVoxEU.org
WA TodayWA Today
WABC-TV Channel 7WABC-TV Channel 7
Whited SepulcheWhited Sepulche
Worcester Telegram & GazetteWorcester Telegram & Gazette
World JournalWorld Journal
www.calcalist.co.ilwww.calcalist.co.il
www.ynet.co.ilwww.ynet.co.il
Xinhua OnlineXinhua Online
XorteXorte
YeniCagYeniCag
ZawyaZawya
ZhongGuo.caZhongGuo.ca
Oman TribuneOman Tribune
One's ObservationsOne's Observations
Open DemocracyOpen Democracy
oPeniazochoPeniazoch
OrbitandoOrbitando
Plus News PakistanPlus News Pakistan
Political CalculationsPolitical Calculations
Portalnet.caPortalnet.ca
Public ChoicePublic Choice
qtnews.netqtnews.net
Reason: Hit & RunReason: Hit & Run
Report on Business MagazineReport on Business Magazine
Rilindja DemokratrikaRilindja Demokratrika
RosarioNetRosarioNet
Sake 24Sake 24
SEEbiz.eu (BIH)SEEbiz.eu (BIH)
Sing Tao (Hong Kong)Sing Tao (Hong Kong)
sinomontreal.casinomontreal.ca
SITA Slovenska TlacovaSITA Slovenska Tlacova
AgenturaAgentura
SITA Slovenska TlacovaSITA Slovenska Tlacova
Agentura (English)Agentura (English)
Sofia EchoSofia Echo
South Asian JournalSouth Asian Journal
South China Morning PostSouth China Morning Post
Spero NewsSpero News
Sports NetworkSports Network

14. Sub-national and Regional IndicesSub-national and Regional Indices

15. Economic Freedom of the Arab WorldEconomic Freedom of the Arab World

16. Economic Freedom of Latin AmericaEconomic Freedom of Latin America

17. Economic Freedom of FrancophonieEconomic Freedom of Francophonie

18. Marketization Index of Chinese Provinces

19. Economic Freedom Index of Indian States

20. Economic Freedom Index of
Argentinean Provinces

21. Economic Freedom of North AmericaEconomic Freedom of North America

22. Introducing the 2010 EconomicIntroducing the 2010 Economic
Freedom of the World Index ResultsFreedom of the World Index Results

24. Economic Freedom Over TimeEconomic Freedom Over Time
6.10
5.50
5.53
5.56
5.87
6.25
6.58
6.69
6.73
6.74
6.67
6.60
6.60
6.60
0
2
4
6
8
10
EconomicFreedomScore
1970 1975 1980 1985 1990 1995 2000 2005 2006 2007 2008 2005 2006 2007
Source: The FraserSource: The Fraser

25. Why is Economic FreedomWhy is Economic Freedom
Important?Important?
• Economic rights are fundamental rights in
the sense that without them there can be
no political freedom or civil freedoms
• They are a prerequisite for growth and
development
• They are a prerequisite for broader human
development

26. The impact on prosperityThe impact on prosperity
and developmentand development

27. Per Capita Income and EconomicPer Capita Income and Economic
Freedom QuartileFreedom Quartile
$0
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
$35,000
GDPPerCapita
(ppp),2007
Least Free
Quartile
3rd Quartile2nd QuartileMost Free
Quartile
Sources: The Fraser Institute; The World Bank, World DevelopmentSources: The Fraser Institute; The World Bank, World Development
Indicators,Indicators, 2010.2010.
Most Free ……………. Least FreeMost Free ……………. Least Free

28. Growth in Real GDP Per CapitaGrowth in Real GDP Per Capita
and Economic Freedom Quartileand Economic Freedom Quartile
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
GDPPerCapita%Growth,
1990-2007
Least Free
Quartile
3rd Quartile2nd QuartileMost Free
Quartile
Sources: The Fraser Institute; The World Bank, World Development Indicators,Sources: The Fraser Institute; The World Bank, World Development Indicators,
2010.2010.
Most Free ……………. Least FreeMost Free ……………. Least Free

29. Growth in Developing Nations PerGrowth in Developing Nations Per
Capita and Economic Freedom QuartileCapita and Economic Freedom Quartile
0.0%
50.0%
100.0%
150.0%
200.0%
250.0%
300.0%
GDPPerCapita%Growth,
1990-2007
Least Free
Quartile
3rd Quartile2nd QuartileMost Free
Quartile
Sources: The Fraser Institute; The World Bank, World Development Indicators,Sources: The Fraser Institute; The World Bank, World Development Indicators,
2010.2010.
Most Free ……………. Least FreeMost Free ……………. Least Free

30. Foreign Direct Investment andForeign Direct Investment and
Economic Freedom QuartileEconomic Freedom Quartile
0.0%
3.2%
6.4%
9.7%
12.9%
16.1%
Foreigndirectinvestment,
netinflows(%ofGDP),
1990-2007
Least Free
Quartile
3rd Quartile2nd QuartileMost Free
Quartile
Sources: The Fraser Institute; The World Bank, World Development Indicators,Sources: The Fraser Institute; The World Bank, World Development Indicators,
2010.2010.
Most Free ……………. Least FreeMost Free ……………. Least Free

31. Economic Freedom, the Poor, andEconomic Freedom, the Poor, and
InequalityInequality

32. Income Share of the Poorest 10% andIncome Share of the Poorest 10% and
Economic FreedomEconomic Freedom
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
IncomeShareHeldby
Lowest10%,1990-2007
Least Free
Quartile
3rd
Quartile
2nd
Quartile
Most Free
Quartile
Sources: The Fraser Institute; The World Bank, World Development Indicators,Sources: The Fraser Institute; The World Bank, World Development Indicators,
2010.2010.
Most Free ……………. Least FreeMost Free ……………. Least Free

33. Per Capita Income of Poorest 10%Per Capita Income of Poorest 10%
and Economic Freedomand Economic Freedom
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
Least Free Quartile3rd Quartile2nd QuartileMost Free Quartile
$0
$1,000
$2,000
$3,000
$4,000
$5,000
$6,000
$7,000
$8,000
$9,000
Income share held by lowest 10%, 1990-2008
Average income earned by lowest 10%, 2008
Sources: The Fraser Institute; The World Bank, World Development Indicators,Sources: The Fraser Institute; The World Bank, World Development Indicators,
2010.2010.
Most Free ……………. Least FreeMost Free ……………. Least Free

34. Economic Freedom, Governance,Economic Freedom, Governance,
and Democracyand Democracy

35. Economic Freedom and Civil/Political RightsEconomic Freedom and Civil/Political Rights
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
8.0
PoliticalRights
(outof7)
Least Free
Quartile
3rd Quartile2nd QuartileMost Free
Quartile
Sources: The Fraser Institute; Freedom House, Freedom in the World Country Ratings,Sources: The Fraser Institute; Freedom House, Freedom in the World Country Ratings,
2008, available at http://www.freedomhouse.org/.2008, available at http://www.freedomhouse.org/.
Most Free ……………. Least FreeMost Free ……………. Least Free

36. Economic Freedom and CorruptionEconomic Freedom and Corruption
High scores indicate low corruptionHigh scores indicate low corruption
0
2
4
6
8
10
CorruptionRating
(outof10)
Least Free
Quartile
3rd Quartile2nd QuartileMost Free
Quartile
Sources: The Fraser Institute; Transparency International, Corruption Perceptions Index,Sources: The Fraser Institute; Transparency International, Corruption Perceptions Index,
2008/2009, available at http://www.transparency.org.2008/2009, available at http://www.transparency.org.
Most Free ……………. Least FreeMost Free ……………. Least Free

37. The impact of Economic Freedom onThe impact of Economic Freedom on
other indicators of well-beingother indicators of well-being

38. Economic Freedom andEconomic Freedom and
Life SatisfactionLife Satisfaction
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
8.0
CivilLiberties
(outof10)
Least Free
Quartile
3rd Quartile2nd QuartileMost Free
Quartile
Sources: The Fraser Institute; Freedom House, he (un)Happy Planet Index 2.0. WhySources: The Fraser Institute; Freedom House, he (un)Happy Planet Index 2.0. Why
good lives don't have to cost the Earth. 2009.good lives don't have to cost the Earth. 2009.
Most Free ……………. Least FreeMost Free ……………. Least Free

39. LiteracyLiteracy
Male FemaleMale Female
0.5
0.6
0.7
0.8
0.9
1.0
Least Free
Quartile
3rd Quartile2nd QuartileMost Free Quartile
Most Free ……………. Least FreeMost Free ……………. Least Free
Sources: The Fraser Institute; United Nations Development Programmme, HumanSources: The Fraser Institute; United Nations Development Programmme, Human
Development Indicators 2009, available at http://hdr.undp.org/.Development Indicators 2009, available at http://hdr.undp.org/.

40. Life Expectancy at Birth andLife Expectancy at Birth and
Economic Freedom QuartilesEconomic Freedom Quartiles
0
20
40
60
80
Years
Least Free
Quartile
3rd Quartile2nd QuartileMost Free
Quartile
Sources: The Fraser Institute; The World Bank, World Development Indicators,Sources: The Fraser Institute; The World Bank, World Development Indicators,
2009.2009.
Most Free ……………. Least FreeMost Free ……………. Least Free

41. ConclusionsConclusions
Economic Freedom
• Increases prosperity for all
• Reduces poverty
• Increases other freedoms
• Improves quality of life

42. www.freetheworld.comwww.freetheworld.com
www.fraserinstitute.orgwww.fraserinstitute.org