“Ideology matters again,” Robert Kagan writes in today’s Washington Post. “Autocracy is making a comeback.” The influential analyst focused on
Yesterday, President Evo Morales of
The nationalization by decree comes on the same day that
Morales was following in the footsteps of his mentor, Hugo Chavez. On Wednesday, the overstuffed Venezuelan ordered the expropriation of his country’s largest steelmaker, Siderurgica del Orinoco, from an Argentine-Italian group. This action follows Chavez’s moves to take over businesses in important sectors such as telecommunications, electric power, oil, and cement.
At this moment, the Latin American nationalizations are pinpricks. Yet it’s not too early for the West to begin thinking about how to counter assaults on free-markets—and how to work together to defend the concept of private property in a global economy. As Kagan notes, ideologies hostile to us are on the march.
And what are we doing? The West is not good at defending its private businesses. Many of these authoritarian states sustain themselves through their access to foreign investment and trade with the very nations whose property they take. Yet we are doing virtually nothing in response. Ideologues are declaring economic warfare against us, and the least we can do is return the favor.