Wednesday, August 29, 2007

Chavez of Venezuela

Oil reserve bestowed on a nation and the high global oil price is a lottery wealth. Chavez is right on sharing the lottery wealth with the poor. If he spent the money on health care and education, making them essentially free for all, it is not a bad thing. If he spent the money on infrastructures such as utility, roads, water supply, and fiber optic cables, the country might even lay the foundation for long term growth. Socialism is wrong because it redistribute the wealth of the hard working to the poor, no matter what causes the poor to be poor. But if the wealth comes from lottery, there should be no objection to socialism.

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