On the Thursday edition of The Chad Hasty Show, Dr. Benjamin Powell from the Texas Tech Free Market Institute talked with Chad Hasty about the institute and the response it's received from the community.

The Free Market Institute, which is nearing its 1-year anniversary on campus, provides research opportunities and brings in speakers and lecture series to help promote the study of free markets. Powell said that for many years, the U.S. has been one of the top countries for economic freedom, according to the Economic Freedom of the World report. However, over the last decade, the country's free market rating has been steadily decreasing, and that downward slide has nearly doubled since President Obama took office.

"The United States was traditionally 2nd or 3rd on the list...we were the freest big economy in the world. But starting around 2000, we started sliding back. Unfortunately, the rate of decline of our slide has increased. Currently, we rank 18th in the world. There are countries on every contitnent, including Africa, that are freer than the United States right now."

As for the institute itself, Dr. Powell said that the Texas Tech administration has been extremely supportive of the venture, and that the community as a whole has been more receptive than anywhere else. He added that, while they do not offer a degree in free market studies, they do offer a number of courses on the subject, as well a fellowship program for PhD students who want to focus their studies on the free market.

For more information on the Texas Tech Free Market Institute, visit their website at fmi.ttu.edu, or follow them on Facebook.

Listen to the full interview with Dr. Benjamin Powell here:

You can also listen on your iPhone, iPad and other mobile devices by following the link below.

KFYO Dr. Benjamin Powell Interview 12/12/13

The Chad Hasty Show airs weekday mornings from 8:30 AM to 11 AM on NewsTalk 790 KFYO and online at KFYO.com.