The John Locke Foundation, based in North Carolina, recently issued a report on financial freedom in the USA. Overall South Dakota scored 4th best among states in the First in Financial Freedom Index. Florida scored the best followed by Arizona, Indiana and South Dakota. New York scored the worst followed by New Jersey, California and West Virginia.
The study attempts to objectively measure overall financial freedom in states by looking at each state’s fiscal policy, regulatory policy, education policy and health care policy. Within each policy category, states were graded on objective measurable policies. South Dakota was ranked:
- 1st in fiscal freedom
- 2nd in health care freedom
- 3rd highest in regulatory freedom
- 40th in education freedom
The report also attempts to show the correlation between economic freedom and economic growth. The report shows states that score higher in economic freedom have higher economic growth and strong economies.
The complete report can be found here.