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March 26, 2007
Here We Go Again ...
... a revolutionary crackpot is going to impoverish his people: CARACAS, Venezuela: President Hugo Chavez announced Sunday that his government's sweeping reforms toward socialism will include the creation of "collective property." Vowing to undermine capitalism's continued influence in Venezuela during his television and radio program "Hello President," Chavez said state-financed cooperatives would operate under a new concept in which workers would share profits. "It's property that belongs to everyone and it's going to benefit everyone," said Chavez, a close ally of Cuban leader Fidel Castro whom opponents accuse of leading Venezuela toward Cuba-style communism. Posted by E. Frank Stephenson at 08:42 AM in Economics
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The statesman who should attempt to direct private people in what manner they ought to employ their capitals would not only load himself with a most unnecessary attention, but assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself fit to exercise it. -Adam Smith
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