Alberta Leads Canada in Economic Freedom but Falls Behind in North America

A recent report by the Fraser Institute reveals that while Alberta maintains its status as the province with the highest economic freedom in Canada, it ranks only 30th overall in North America. This finding highlights the complexities of economic policies across different jurisdictions, raising questions about the factors influencing Alberta’s positioning.

The Economic Freedom of North America report outlines how economic freedom is enhanced when individuals have greater control over their choices, including what to purchase, where to work, and how to operate a business. This year’s assessment includes four indices: three sub-national indices measuring economic restrictions at the provincial and local levels in Canada, the United States, and Mexico, alongside an all-government index that factors in federal policies across these countries.

In the all-government index, Alberta shares its position with West Virginia at 30th, marking it as the top-ranking Canadian province. Following Alberta, British Columbia ranks 47th, tied with Rhode Island, while Ontario comes in at 49th, Manitoba at 54th, and Saskatchewan at 55th. The lowest-ranked Canadian province is Newfoundland & Labrador, which sits at 60th. Other provinces with lower rankings include Prince Edward Island and Nova Scotia at 58th, and New Brunswick at 57th. Notably, seven out of the ten Canadian provinces rank below all 50 U.S. states in terms of all-government economic freedom.

Matthew Mitchell, a senior fellow at the Fraser Institute and co-author of the report, commented on the findings, stating, “High taxes, high levels of government spending, and overly burdensome regulations continue to depress economic freedom across much of Canada, which makes it harder for businesses to thrive and create jobs.”

The report’s top jurisdiction in North America remains the State of New Hampshire. The Economic Freedom of North America report, co-authored by Dean Stansel, José Torra, and Ángel Carrión-Tavárez, is an extension of the Fraser Institute’s long-standing Economic Freedom of the World index, which has evolved over more than 25 years, drawing on the expertise of over 60 scholars, including three Nobel laureates.

For detailed tables and specific data on each jurisdiction, the Fraser Institute’s website offers comprehensive resources, providing insights into the varying degrees of economic freedom across North America.