Economic freedom isn t a modern invention. Throughout history, we find time and time again that those areas with the most economic freedom were the most prosperous. Activists in favor of economic freedom often limit themselves, however, to only a few times and places, and most lean on modern studies showing the benefits of the marketplace. It is possible to take a broader view, however, and market defenders could strengthen their argument by revisiting the larger historical track record of economic freedom.
Recent research shows that ancient Greece, for example, prospered during periods of economic freedom:
Andreas Bergh and Carl Hampus Lyttkens in “Measuring Institutional Quality in Ancient Athens,” argue that economic freedom in ancient Athens was comparable to highly ranked modern economies such as Hong Kong and Singapore. The authors note that well-defined property rights, freedom to trade, and light regulations conduced an environment where commerce could thrive, the