In the twilight of Iraq’s latest successful election, and before the doomsayers have a chance to get back on their callused feet, it’s worth taking the time to examine Iraq’s inexorable progress in gaining freedom — an immense project that is changing not just the lives of twenty-five million people (a praiseworthy feat in itself), but changing the face of the world.

Less obvious than Iraq’s newfound and thrice-exercised democratic freedom, but equally important, is its burgeoning economic freedom. As reduced regulation, lowered taxation and less corruption allow resourceful Iraqis to drive their economy into a flexible regional powerhouse, the dynamics of the entire Middle East will look vastly different than they do now in the upcoming years. Political freedom is essential and gives hope and happiness to an inidividual laboring under the kind of duress Iraqis now face, but the other side of that coin is the economic freedom that makes democratic revolutions (and democratic societies generally) sustainable and permanent.

Amazingly enough — and this will be particularly surprising if you watch the news — Iraq is pursuing the kind of reforms that will transform it into a business hub in the region; the kind of reforms that not only Iraq, but a good portion of the world desperately needs. In some ways an Iraqi now has more economic freedom than a Canadian. Iraq has a flat tax, low duties, and is welcoming to foreign investment. The Iraqi economy is forecasted to grow at an astounding 17% next year (hello, quagmire).

A few days ago Robert M. Kimmitt of the U.S. Department of the Treasury wrote a piece in which he discusses the Iraqi economy:

Iraq already possesses a well-educated population, the world’s second-largest proven oil resources and a strong entrepreneurial culture. Building on these advantages, the process for establishing sustained economic growth is well under way: Iraq has a sound and stable currency and inflation is under control. The Iraqi Assembly has this week successfully passed its second budget with an open debate, so that the budget reflects the priorities of the people…

Iraq’s commercial banking and central bank laws, both based on international best practice, lay the foundation for a sound, modern banking system. After 15 years of near-total isolation from the global banking community, modern finance is returning, and foreign and domestic banks are opening new offices. ATMs and credit cards have begun to appear. The Central Bank of Iraq, formerly Saddam’s personal coffer, is now independent and transparent.

One can already see a rich, vibrant market economy evolving in Iraq. How much longer until the arrival of the w’al-Mart and McFalafel shop? And the individual Iraqi keeps on gaining, living not just more freely but with more money.

These achievements are translating into measurable progress. Iraq’s economy is expected to grow by nearly 4 percent this year and accelerate to nearly 17 percent in 2006. Per capita income should soon exceed $1,000 — nearly double the level in 2003. More than 30,000 new businesses have been registered and many have set up shop. Today in Iraq there are more than three million cell phone subscribers. In 2003 there were virtually none. Iraqi students now carry laptops that connect at Internet cafes to the world’s Web sites and libraries where before they had to rely on pencils, slide rules and outdated — often censored — school textbooks.

Some dopes have pointed out whatever isolated instances they could find of metrics that show Iraq “worse off” than under Saddam, but clearly the direction in which the country is actually moving is the opposite. Not that I’m even sure what argument could be supported by digging up those isolated instances other than that Saddam should be invited back, but I’m not the kind of scoundrel to impute such a low motive to anyone…

(And, surely each of the millions of purple fingers already served as a dagger in the hearts of the world’s “progressive” “liberal” internationalists — no need to point out an upsurging economy.)

Kimmitt’s closing notes provide an apt recapitulation:

Just a few years ago, Iraq was a kleptocracy where the ruling elites prospered while food shortages, crushing debt, unemployment and hyperinflation plagued the mass of people. Today, Iraq’s leadership is moving the economy in the right direction, despite the challenges of a difficult security environment, and we all stand to gain by supporting their efforts. A free and prosperous Iraq is in everyone’s interest: Its citizens will have an increasing stake in the success of their democracy and in preserving stability, thereby draining the influence of radicals and spurring economic activity throughout one of the world’s most vital regions.

Faster, please!

UPDATE: While I’m writing, let me add this from a comment I posted to a recent article by Robert:

Looking back on Afghanistan, we stopped hearing the doom-mongering and fear when most of the journalists packed up and left, and while there are still terrorists to kill nobody????????s still arguing that we????????re going to lose Afghanistan and that we????????ve got to retreat now, etc. etc. Since there????????s less ???????chatter??????? among the newsmen concerning Iraq, it does feel as though the media folk are packing up and heading home, and maybe the Iraqis and the military will have a chance to finish the real, hard work of building an enduring democracy without the constant nattering and FUD spread by the journos.

Tipping point? Impossible to say for certain, but I agree that it does feel good and that we have reason to be cautiously optimistic!