An editorial from the Parkersburg News and Sentinel
PARKERSBURG, W.Va. — Most West Virginians likely had a sense already that their own personal economies were not as flexible as those of folks living in other states. But a recent report confirms, West Virginia ranks 45th among states when it comes to economic freedom.
What that means is, in terms of the size of state government, tax levels and labor market regulations, Mountain State residents have less autonomy over their own financial decisions than do residents of all but five other states, according to the 2014 Economic Freedom of North America Report.
“It’s about what sort of constraints government is putting on people’s ability to go about work and business,” said Joshua Hall, associate professor of economics at West Virginia University, in a published report.
Residents in the most economically free states see a per capita gross domestic product 14 percent greater than those in the least free states. The degree to which government has invaded our wallets has a measurable negative effect on income levels, employment opportunities and economic growth.
In January, lawmakers will have a chance to examine the legislative trends that have led West Virginia to such a low.
“Economic freedom provides individuals with the ability to go out and live their lives more fully,” Hall said.
For many who love this state and want desperately for it to be the kind of place where their children and grandchildren want to stay and live productive lives, an effort to address such a restrictive financial environment is crucial.
To read more from the Parkersburg News and Sentinel, subscribe here.
