
Hugo Chavez's government in Venezuela is set to expropriate a 32,000-acre ranch owned by a British lord. The seizure is among the first of more than 100,000 estates, farms, and other pieces of property that closet-Communist Chavez plans to redistribute in the coming months. "The full weight of the armed forces and the police will be present to implement the first phase of the land mission," explained Alexis Ortiz, the attorney general for the Venezualan province. What's phase two? I've seen this movie before. Whether it's called Zimbabwe, Uganda, or Bangladesh, this story never has a happy ending. Expropriation drives the wealth creators out of a nation. It promises the poor wealth, but instead delivers to them more poverty.
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