Sunday, February 11, 2007

Nationalization in Latin America

Bolivia's little Chavez moves ahead of Venezuela's Chavez in the industry nationalization race.

Chavez felt the need to pay for his first acquistion, but while the terms of Morales' appropriation haven't been disclosed as of yet, they are likely not as generous as those Chavez granted to the American company he "bought" out.

There is something to be said for being a nation willing to use force: when flea-bitten dictators take your property, they feel compelled to pay for it (0n occasion).