Good News for the Enemies of Liberty and Free Markets

Yesterday, Evo Morales was elected to be the new President of Bolivia. A victory for ignorant Bolivians who voted for this enemy of freedom with no understanding of the harsh consequences they will face in the next decades. I pity those Bolivians for having such terrible memory. They should remember that most of what their new elected President is proposing has already been tried in Peru when in 1968 a socialist military regime ousted the elected president. Although the military regime was not democratically elected and Evo Morales was, they both share the same flawed and rotten ideas. The regime immediately expropriated assets of US oil companies and many other sectors of the economy (as Evo Morales has publicly proposed) to establish a socialist state to help the poor of Peru. Capital fled the country since it was more profitable and safe to invest in other countries. During the twelve years of socialist rule real income dropped 40% and a country that had been able to feed itself for centuries ended up importing food.

Facts are Facts.

A note to Bolivians:

Prepare yourselves to experience time travel, since the wealth and prosperity of your country will go back to what it was decades ago. Mistakes like the ones that Evo Morales will make take many years to mend and repair. Bolivia might serve as a perfect case study for other Latin American countries of what NOT to do to increase the wealth and prosperity of a nation.