Via Say Uncle.
This is very appealing to me. It almost sounds like Galt’s Gulch:
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.
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.
…
The laws in the city will be separate from those in the rest of Honduras. Strong said that the default law that will be enforced in the city will actually be based on Texas state law, which has relatively few regulations.
“It will be Texas law with more freedom of contract. Texas scores well on state economic freedom rankings,” he explained.
Hmmm… I wonder what I could build and export using native labor and materials.
Joe, I’m reasonably sure you’re familiar with a salt lick and it’s operative use in hunting…
There’s a phrase I’m reminded of in this case, “If it sounds too good to be true, it probably is.”
I would be very concerned this is a method of fattening a cow for slaughter.
Barron; my thoughts exactly. There need be a reasonable expectation of consistency to get my attention.
Why only one city? If they really believe what they’re saying, then go all the way and make it country-wide. Write it into the constitution.
Stateside it will be up to the states though, to make this sort of thing happen, and that will include keeping the feds at bay. Our fed gov is far too broken at the moment to be of any help.
Right now it is a race. Whoever can create a truly free market first– one that people can trust, will win.
I was thinking the exact same thing Barron. I think it’s a great idea if properly implemented but successes in banana republics tend to get nationalized.
And since its laws will be based on Texas, why not just come here instead?
Interesting. Posted. 🙂
Why only one city? If they really believe what they’re saying, then go all the way and make it country-wide. Write it into the constitution.
Because they probably don’t believe what they’re saying. But it is at least the basis for a scientific experiment. If it turns out to be wildly successful, that’s a good reason to expand it. If it fails, not so much.