Here's some economic info on Hong Kong (considered to have the freest markets in the world)
Hong Kong (sales pitch)
http://www.tdctrade.com/main/economic.htm
GDP per capita $24,700
Hong Kong's fiscal account returned to a surplus of US$ 2.7 billion for the fiscal year ended March 2005. (for a population size of ~7 million)
They've experienced an average rate of deflation (less expensive costs) of around 1% over the last 4 years. So they aren't having the inflation problems we're having here.
The U.S. average income per capita is ~$33,000/yr. It would be interesting to do some cost of living comparisons. Hong Kong doesn't have a lot of land though, so land values are likely high.