Bolivian President, Evo Morales may be portrayed in this New York Times article as a "liberator". At least this is what the caption declares. However it would be interesting to know what all the folks on the street in front of him think. What does the average Bolivian feel is appropriate regarding their oil reserves. Keep the reserves open to (liberlization) foreign investment and development or nationalize (government control) the oil industry?
It is easy for the poor to look for a government fix. This is true for poor in any country including the US. Those who have either fell on hard times, or have learned to be helpless and hopeless may dream about either winning the lottery or receiving a check in the mail from their government. This may be exactly what the Bolivian people asked for en-masse.
A decision to nationalize an industry is the first step in wrecking an economy. Communist USSR did just this with every part of their economy. This contributed to some of the worst poverty the world has seen. The proletarians of Marxist ideals were hundreds of millions of peasant farmers and factory workers + millions of slave laborers. This system does not work. It breeds poverty. While a ruling class of elite beaucrats make all the decisions and live in wealth.
If I could send 1 million history books to Bolivian elementary and high schools, maybe we could save the country in 20 more years.
Bolivia may be doomed to go the same road as Hugo Chavez and his Argentina. A tanking economy and fleeing investors. These countries cannot make it on their own, or even just trading among themselves only.
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