Dear John,

A fascinating new Fraser Institute study out today analyzes 158 states and provinces in seven countries to determine the optimal population size for states and provinces (subnational jurisdictions) to maximize economic freedom.

Its findings?

Economic freedom rises with population initially, attains a maximum (roughly 9.5 million), then begins to decline as population grows larger.

This means that provinces and states such as Ontario, California, and New York whose populations have grown beyond 9.5 million people tend to have higher levels of government spending, higher taxes, and less flexible labour markets.

Check out the full study here [[link removed]], and be sure to share it with your friends and colleagues!

Stay safe,

Niels Veldhuis

President

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