Zusammenfassung
The importance of economic freedom has often been stressed by supporters of liberalism, but can its actual
effect be observed in a data driven, objective way? To analyze this relation the Economic Freedom of the
World (EFW) index and the Human Development Index (HDI) were examined with modern machine learning
algorithms and a wide-ranging approach. Considering the EFW index’s preference of a liberalistic
oriented economic policy, an objective recommendation for creating an economic policy that improves
people’s everyday lives might be derived by the analysis results. It was found that these more advanced
algorithms achieve a considerably stronger correlation between both indices than pure statistical means
yet leave a small room for interpretation towards a counter-liberalistic implementation of demand-driven
economic policy.
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