OECD countries are currently experiencing their highest levels of economic freedom in modern history

How has economic liberty changed in the developed world over the past two centuries? Leandro Prados de la Escosura presents findings from an analysis of the historical development of economic freedoms in OECD countries since 1850. He illustrates that economic liberty rose steadily from 1850 until the outbreak of the First World War, before experiencing a sharp decline in the mid-20th century. However since the end of the Second World War, economic freedom has risen to a point where it now sits at its highest level in modern history.