2013 Index of Economic Freedom

(CC) Roger Wagner/FlickrThe Heritage Foundation and The Wall Street Journal have just released the 19th annual “Index of Economic Freedom.”

Hong Kong and Singapore finished first and second in the rankings, with Australia, New Zealand and Switzerland rounding out the top five. Canada finished sixth, slipping almost a full point and falling out of the group of “free” economies into the “mostly free” category. Spain occupied 46th place.

Zimbabwe (179th), Cuba (178th) and North Korea (177th) are the lowest rated.

The Index measures economic freedom in 10 specific categories: labor freedom, business freedom, trade freedom, fiscal freedom, government spending, monetary freedom, investment freedom, financial freedom, property rights and freedom from corruption. Scores in these categories are averaged to create an overall score.

You can view the complete rankings here.