Thoughts, essays, and writings on Liberty. Written by the heirs of Patrick Henry.

“Americans are so enamoured of equality they would rather be equal in slavery than unequal in freedom.”     Alexis de Tocqueville

November 27, 2007

Chavez threatens property of opponents

by Jason Pye

Atlas continues to shrug in Venezuela:

The Venezuelan president, Hugo Chávez, today threatened to strip the country’s industrialists of their assets if they continued to oppose his indefinite presidency.

Chávez faces a vote at the weekend on his proposals to change 69 articles of the constitution, including scrapping the limit on the number of terms a president can serve.

Venezuela’s largest business chamber, Fedecámaras, to which thousands of large and small businesses belong, has called the planned reforms an “illegal act”, and called on voters to oppose their passage “by every possible legal means”.

Where’s Jimmy Carter when you need him!!!

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3 Comments

  1. Jason,

    I recently read an article that stated that supermarkets in Venezuela had shortages of basic staples (which are price controlled) while their shelves were chock full of luxury goods (which are priced at market clearing levels).

    Apparently the governments “spin” is that the shortages are the product of the new affluence of the poor. The fact that in a free market shortages cause prices to rise, which attract additional suppliers seems to have completely missed these guys. For 6000 years of recorded history, starting with the Sumerians, despots, kings and demagogues have attempted, nearly always with catastrophic results, to use price controls to evade the laws of economics. These attempts have invariably failed.

    There is only one upside to Hugo Chavez; his reign will be this decade’s poster-child as to how coercive socialism fails to provide people with security and happiness. Of course, tell that to the millions who will suffer or die in yet another attempt to demonstrate the folly of attempting violence to override economical laws.

    Sheesh.

    Comment by tarran — November 27, 2007 @ 8:03 pm
  2. tarran,

    I may have read that exact same article.

    Basically, Chavez is going to use the excuse of not enough food in the supermarkets to take control of the farms and food processors and even the supermarkets. Eventually, Chavez will, once his oil sector collapses due to neglect, labor difficulties, etc., will have to fire up the printing presses like his buddy Robert Mugabe in Zimbabwe and will eventually suffer from hyperinflation.

    There is only one upside to Hugo Chavez; his reign will be this decade’s poster-child as to how coercive socialism fails to provide people with security and happiness.

    I wish I was as optimistic as you are, but history dictates that not too long from now, another demagogue will preach the exact same message with the exact same results.

    Comment by Kevin — November 27, 2007 @ 9:05 pm
  3. Jason,

    Where’s Jimmy Carter when you need him!!!

    The biggest useful idiot in American history I’m sure will down in Venezuela monitoring Hugo’s latest power grab this weekend.

    Comment by Kevin — November 27, 2007 @ 9:06 pm

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