Issue 73 | Autumn 2024

Welcome back to Fraser Insight, the Fraser Institute’s U.S. newsletter. This autumn issue of Insight showcases a number of outputs and initiatives that focused on economic freedom.

As always, the In Print section features an interesting mix of op-eds and blogs. This issue includes essays exposing how autocratic regimes manipulate statistics (and thus impact the Economic Freedom of the World rankings); the political consequences of Venezuela’s economic policies; the serious problems governments face in trying to force a transition away from fossil fuels; and several other timely pieces.

The In Focus section highlights in-depth research reports, including studies digging into the defining characteristics of economic freedom and the shortsightedness of industrial policy.

Finally, our In Context section offers a recap of our annual EFNA Network conference, which brought together 21 partner organizations for panel discussions, presentations, and networking in Dallas last month.

We encourage you to share Insight with friends and colleagues by inviting them to sign up for Insight here [[link removed]]. Visit our website [[link removed]], which serves as a storehouse for cogent commentary [[link removed]] and in-depth analysis [[link removed]]—all from a free-market perspective. Follow us on X (formerly Twitter) [[link removed]]. Join us on Facebook [[link removed]]. And check out the In Touch section for more contact info.

In Print: Commentary and Review Oil Isn’t Dead [[link removed]] Fraser Blog

The reality is that global demand for oil is set to rise in the coming years.

Energy Transition Will Be Much Longer and More Arduous than They’re Telling You [[link removed]] Fraser Blog

The transition away from fossil fuels as the predominant source of energy will be a lengthy and arduous journey—and is sure to encounter more obstacles than the political class understands or cares to acknowledge.

Bad Government Policy Made Venezuela’s Downfall Inevitable [[link removed]] Inside Sources

In 1970, Venezuelans were the wealthiest people in Latin America. With annual incomes comparable to those of the Finns and the Japanese, they earned two-and-a-half times what the average Latin American earned. Their wealth bought them longer life, lower infant mortality, and some measure of safety. But today, as the United Socialist Party’s Nicolás Maduro tries to steal another term as president, it’s a very different story.

Fossil Fuel Consumption Rising despite ‘Net-Zero’ Plans Worldwide [[link removed]] The Hill Times

During a recent speech in Brazil, U.S. Treasury Secretary Janet Yellen said that “many sources”—including governments—must spend “no less than $3 trillion” each year for the world to achieve “net-zero” global carbon emissions by 2050.

Ignore Climate-Obsessed Propagandists [[link removed]] Toronto Sun

The climate-obsessed folks want your barbecues gone, your road trips gone, your air conditioning coolant weakened or gone, and so on.

Nighttime Light Intensity Exposes Failure of Autocratic Regimes [[link removed]] Fraser Blog

The EFW report often underestimates the potency of economic freedom. Why? Because the economic statistics produced in countries ruled by autocrats are not believable. In autocratic regimes, rulers must bolster their legitimacy to prevent coups or uprisings, so they produce statistics that exaggerate their country's performance. And since neither the opposition nor independent authorities are allowed to challenge these claims, autocrats can get away with lying about the size of their economies.

In Focus: Research and Analysis Industrial Policy as Zombie Economics [[link removed]]

The key premise behind industrial policy is that the government can and should promote the expansion of specific industries and activities. The corollary is that the private sector, if left to itself, will underinvest in industries promising large net social benefits. Most economists have criticized the underlying premise of industrial policy. In particular, critics of industrial policy argue that bureaucrats ordinarily do not have the knowledge or the incentive to reallocate productive resources so as to accelerate real economic growth. Case studies of industrial policy initiatives tend to support this criticism.

Economic Freedom: What Is It? How Is It Measured? And How Does It Affect Our Lives? [[link removed]]

Some believe economic freedom makes life better by enabling material prosperity, reducing conflict and fostering trust. Others argue that too much economic freedom makes life worse by, for example, undermining social cohesion, exacerbating inequalities, and permitting exploitation of workers and the environment. This report offers a three-step approach to resolve this debate. Step One is to precisely define human and economic freedom. Step Two is to measure economic freedom. Step Three is to use this measure to test the various claims that have been made.

Hydraulic Fracturing: Risks and Management [[link removed]]

Opponents of hydraulic fracturing assert that the process poses innumerable risks to the environment and human health—and have lobbied governments to ban hydraulic fracturing. Since 2014, Fraser Institute researchers have conducted periodic surveys of the literature assessing the environmental and health risks of hydraulic fracturing. Generally, they found that while the risks posited by opponents of hydraulic fracturing are real, they are neither high nor overly frequent and could be mitigated with changes to the hydraulic fracturing practice. This report is the latest update to that body of research.

Fraser Forum Podcast: How Society Can Maintain Health with Technology [[link removed]]

Sonia Arrison, best-selling author of 100 Plus: How the Coming Age of Longevity Will Change Everything from Careers and Relationships to Family and Faith and founder of 100 Plus Capital, joins the podcast to discuss the policy implications that flow from technology’s impact on lifespans.

In Context: News and Events EFNA Network Showcases Successes at Annual Conference

Members of the EFNA Network [[link removed]] gathered in Dallas in late September for their annual conference, which focused on “Bridging the Gap between Institutions and Policy.” Twenty-one partner organizations, 16 states and territories, and three countries were represented at the conference, which was cohosted by the Fraser Institute and SMU’s Bridwell Institute for Economic Freedom.

Bob Ewing, president of the Ewing School [[link removed]], delivered a keynote presentation that helped attendees identify ways to communicate the message of economic freedom in their circles of influence, cities and states.

Matthew Mitchell, director of Fraser Institute’s Center for Economic Freedom, and Vance Ginn, a visiting economist for several EFNA Network members, led a discussion on bridging the institution-policy gap. The Bridwell Institute’s Meg Tuszynski described how her team is sharing EFNA research “beyond the ivory tower.” Paul Gessing, president of the Rio Grande Foundation [[link removed]] (New Mexico), and Collin Hodges, assistant professor at the Arkansas Center for Research in Economics [[link removed]] at the University of Central Arkansas, delivered presentations focused on ways to disseminate the EFNA report [[link removed]].

Jennifer Apperti, director of the Texas-Mexico Center at SMU, and José Torra, head of research at Caminos de la Libertad in Mexico City, led a fascinating panel exploring what to expect on the policy front from Mexico’s new president, Claudia Steinbaum. And EFNA’s authors offered a sneak peek of what the forthcoming report (to be published in November) reveals about the state of economic freedom across North America.

The EFNA Network now enfolds 64 partner institutions in 47 U.S. states/territories, Canada, and Mexico. The Empire Center [[link removed]] (New York), the Stavros Center for Economic Education [[link removed]] at Florida State University, the Center for Regional Economic Research [[link removed]] at the University of Tennessee-Chattanooga, the Knee Regulatory Research Center [[link removed]] at West Virginia University, and the Center for Free Enterprise [[link removed]] at West Virginia University all joined the Network this year.

In Touch: Connect with Us To learn more about our research team, visit our senior staff [[link removed]] and senior fellow [[link removed]] pages. We always welcome your feedback at [[email protected]]. To find out more about supporting the Fraser Institute, call (800) 665-3558, ext.568, or donate online [[link removed]].

STAY UP TO DATE

The Fraser Institute is an independent Canadian public policy research and educational organization with offices in Vancouver, Calgary, Toronto, and Montreal and ties to a global network of 86 think-tanks. Its mission is to measure, study, and communicate the impact of competitive markets and government intervention on the welfare of individuals. To protect the Institute's independence, it does not accept grants from governments or contracts for research. To find out more, call (800) 665-3558 ext. 590.

Visit our website [[link removed]]

If you no longer wish to receive e-mail updates from us, click here to unsubscribe [link removed].

Contact Us [[link removed]] Privacy Policy [[link removed]] Unsubscribe [link removed] Fraser Institute 4th Floor, 1770 Burrard Street Vancouver, BC V6J 3G7