Small government and free-market capitalism are about to get put to the test in Honduras, where the government has agreed to let an investment group build an experimental city with no taxes on income, capital gains or sales.It will be intersting to see if they can make this free market thing work-not always a given in Latin America. And if it does, with the way things are going, it might be nice to have someplace else to move to...
Proponents say the tiny, as-yet unnamed town will become a Central American beacon of job creation and investment, by combining secure property rights with minimal government interference.
“Once we provide a sound legal system within which to do business, the whole job creation machine – the miracle of capitalism – will get going,” Michael Strong, CEO of the MKG Group, which will build the city and set its laws, told FoxNews.com.
Strong said that the agreement with the Honduran government states that the only tax will be on property.
“Our goal is to be the most economically free entity on Earth,” Strong said.
Monday, September 24, 2012
Gone To Honduras
Free enterprise, Private city in Honduran style: