It is said that a broken (analog) clock is correct twice a day. Similarly, occasionally Trump gets something right, even if by accident. In the case of his recent claim that oil fields in Venezuela were stolen and belong to the United States, he is partially right. When he announced the naval blockade of Venezuela,…
For years, Americans watched in horror as Venezuela steadily descended from Latin America’s most prosperous nation to abject poverty. Many wondered, how could this happen? The essential reason is: The Venezuelan government, led first by Hugo Chavez and then by Nicholas Maduro, seized control of the nation’s production and trade. Beginning in 1999, the government…
In the 2017 legislative session, Texas lawmakers sought to restrict the ability of local governments to violate property rights. Not surprisingly, local governments and the supporters of regulations pertaining to plastic bags, trees, short-term rentals, and more were upset. They argued that local governments should be allowed to enact the laws that their citizens want….
Without property rights, human flourishing is impossible. Without property rights, starvation and misery are the inevitable results. Consider Venezuela as a stark example. In the 1990s, Venezuela was the wealthiest country in Latin America. Today, millions are starving, electricity and water are rationed, and the nation’s hospitals lack basic supplies. Inflation is nearly 2,000 percent…