Final Word from Tuesday, September 15, 2015

The EU has 28 members, and the OECD has 34, but the CR is No. 42 in the world in the Economic Freedom of the World Index. The CR is tied for the No. 42 spot with Bulgaria, Jamaica and Sweden. This is a libertarian-like index, with emphasis on small government, independent courts and laissez-faire regulation. If the CR wanted to be more like Germany (No. 29), it would have to cut its top marginal tax rate, reduce government consumption and improve the independence of the legal system. If it wanted to be more like Switzerland (No. 4), it would have to do these same things on an even bigger scale and also ease business regulation. Where the CR fails the most is in the areas of judicial independence, impartiality of the courts, legal enforcement of contracts and the reliability of the police. This survey is another reminder that the amount a government spends isn't necessarily an indicator of the quality of the services it provides. [Czech Republic justice competitiveness]

Glossary of difficult words

mediocre - of only moderate quality; not very good;

libertarian - advocating civil liberties;

laissez-faire - a policy or attitude of letting things take their course, without interference; abstention by governments from interfering in the workings of the free market;

to ease - to make something less serious or severe;

impartiality - the state of being fair and just; the treating of all rivals or disputants equally.

PDF Archive

«September 2015»

Choose the year


Tel: 420 224 221 580

Published by

E.S. Best s.r.o.
Ovenecká 78/33
170 00 Prague 7
Czech Republic



FS Final Word