As the Charles Koch Foundation demonstrates in this simple yet effective video, it's pretty straightforward: a nation's economic freedom correlates directly with its people's quality of life. 

Take income for example -- the more freedom you have, the more you're likely to make:

[youtube http://www.youtube.com/v/v1U1Jzdghjk?version=3&hl=en_US expand=1]

Dear College Democrats: that's why I'm a conservative -- none of that "hope is bigger than dreams" and wealth is created by fairy dust nonsense.

Freedom = happiness.  The more freedom you have, the happier you are.  End of story.