Economic freedom without actual freedom?

Two major right-of-center think-tanks have economic freedom indices: the Heritage Foundation and the Fraser Institute.  Trying to make sense of these rankings is difficult, as some bizarre results have been achieved. Both indices have Hong Kong ranked as the most economically free country on the planet, with Singapore in second place ahead of New Zealand, Switzerland, Australia, and Canada. This would be the same Hong Kong and Singapore that are not democratic, but ranked as hybrid regimes between authoritarian regimes and flawed democracies in the Economist Intelligence Unit's Democracy Index, which ranks nations based on their electoral process or pluralism, the functioning of government, political participation, political culture, and civil liberties.  As well, neither of these nations has a free press, with Hong Kong ranked 58th and Singapore ranked 149th on the press freedom index. On the Fraser Institute's index, Canada -- tied in 5th place with Australia...(Read Full Post)