Economic Freedom Index

The Heritage Foundation has released its 2005 Index of Economic Freedom. This index is based on a theoretical and empirical analysis of the "factors that most influence the institutional setting" that fosters economic growth. I posted a few times on the Pacific Research Institute's Index of Economic Freedom described in this reprint of a Wall Street Journal column. The PRI's index is based on the on the economic factors that are most-highly correlated with migration between the states in the US. The two indices are based upon different foundations, but share similar factors in their make-up.

Here are my previous posts on the PRI's index: 1, 2, 3, 4.

Thanks to Tyler Cowen of Marginal Revolution for the tip.