Quotulatiousness

September 18, 2012

Canada ranks fifth in the world for economic freedom

Filed under: Australia, Cancon, Economics, Liberty, USA — Tags: , , , , , — Nicholas @ 12:19

The annual Fraser Institute report on world economic freedom may confirm what a lot of Canadians have been noticing: we’re now much more free than our American friends, at least by the measurements tracked in this series of rankings (PDF):

  • In the chain-linked index, average economic freedom rose from 5.30 (out of 10) in
    1980 to 6.88 in 2007. It then fell for two consecutive years, resulting in a score of
    6.79 in 2009 but has risen slightly to 6.83 in 2010, the most recent year available.
    It appears that responses to the economic crisis have reduced economic freedom
    in the short term and perhaps prosperity over the long term, but the upward
    movement this year is encouraging.
  • In this year’s index, Hong Kong retains the highest rating for economic freedom,
    8.90 out of 10. The other top 10 nations are: Singapore, 8.69; New Zealand, 8.36;
    Switzerland, 8.24; Australia, 7.97; Canada, 7.97; Bahrain, 7.94; Mauritius, 7.90;
    Finland, 7.88; and Chile, 7.84.
  • The rankings (and scores) of other large economies in this year’s index are the United
    Kingdom, 12th (7.75); the United States, 18th (7.69); Japan, 20th (7.64); Germany,
    31st (7.52); France, 47th (7.32); Italy, 83rd (6.77); Mexico, 91st, (6.66); Russia, 95th
    (6.56); Brazil, 105th (6.37); China, 107th (6.35); and India, 111th (6.26).
  • The scores of the bottom ten nations in this year’s index are: Venezuela, 4.07;
    Myanmar, 4.29; Zimbabwe, 4.35; Republic of the Congo, 4.86; Angola, 5.12;
    Democratic Republic of the Congo, 5.18; Guinea-Bissau, 5.23; Algeria, 5.34; Chad,
    5.41; and, tied for 10th worst, Mozambique and Burundi, 5.45.
  • The United States, long considered the standard bearer for economic freedom
    among large industrial nations, has experienced a substantial decline in economic
    freedom during the past decade. From 1980 to 2000, the United States was generally
    rated the third freest economy in the world, ranking behind only Hong Kong and
    Singapore. After increasing steadily during the period from 1980 to 2000, the chainlinked
    EFW rating of the United States fell from 8.65 in 2000 to 8.21 in 2005 and
    7.70 in 2010. The chain-linked ranking of the United States has fallen precipitously
    from second in 2000 to eighth in 2005 and 19th in 2010 (unadjusted ranking of 18th).

September 6, 2012

Switzerland to buy Swedish warplanes

Filed under: Europe, Military, Technology — Tags: , , — Nicholas @ 09:12

Switzerland is planning to replace their aging fleet of F-5 fighter jets with a smaller number of modern Swedish aircraft:

Switzerland has decided to buy 22 Swedish JAS-39E Gripen fighters to replace their elderly F-5s. The 16 ton JAS-39E is roughly comparable with the latest versions of the F-16 and is a substantial upgrade of the current JAS-39C model. The Gripen is also used by Sweden, Thailand, South Africa, Hungary, and the Czech Republic. The 39E is still in development and will eventually replace the 14 ton JAS-39C.

[. . .]

Often regarded as an also-ran in the current crop of “modern jet fighters,” the Swedish Gripen is proving to be more competition than the major players (the F-16, F-18, F-35, Eurofighter, Rafale, MiG-29, and Su-27) expected. Put simply, Gripen does a lot of little but important things right and costs about half as much (at about $35 million each) as its major competitors. In effect, Gripen provides the ruggedness and low cost of Russian aircraft with the high quality and reliability of Western aircraft. For many nations this is an appealing combination. The Gripen is easy to use (both for pilots and ground crews) and capable of doing all jet fighter jobs (air defense, ground support, and reconnaissance) well enough.

The Gripen is small but can carry up to 3.6 tons of weapons. With the increasing use of smart bombs, this is adequate. The aircraft entered active service in 1997 and has had an uphill battle getting export sales. Sweden does not have the diplomatic clout of its major competitors, so they have to push quality and service. Swedish warplanes and products in general have an excellent reputation in both categories. Nevertheless, the Gripen is still expected to lose out on a lot of sales simply because politics took precedence over performance.

Update: Yes, I caught the mis-attribution in the headline about a minute after I posted this. Sorry for the error, etc., etc., etc.

September 6, 2011

Switzerland devalues the franc

Filed under: Economics, Europe — Tags: , , — Nicholas @ 12:06

In what appears to be a successful attempt to devalue their currency, the Swiss have announced that they will peg the franc at €0.83, or SFr1.20 to the euro:

The Swiss National Bank in effect devalued the franc, pledging to buy “unlimited quantities” of foreign currencies to force down its value. The SNB warned that it would no longer allow one Swiss franc to be worth more than €0.83 — equivalent to SFr1.20 to the euro — having watched the two currencies move closer to parity as Switzerland became a “safe haven” from the ravages of the eurozone crisis.

The move stunned currency traders, and sent the Swiss franc tumbling against other currencies. Jeremy Cook, chief economist at currency brokers World First, said it was “intervention on a grand scale”, and the start of a “new battle in the currency wars”.

“That was the single largest foreign exchange move I have ever seen … The Swiss franc has lost close on 9% in the past 15 minutes. This dwarfs moves seen post-Lehman brothers, 7/7, and other major geo-political events in the past decade,” Cook said.

April 1, 2010

Blast from the past: “Panorama” looks at spaghetti farming

Filed under: Europe, Food, Humour, Media — Tags: — Nicholas @ 07:55

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