A WAR ON PROPERTY RIGHTS IN SOUTH AFRICA …
|| By FITSNEWS || We wrote recently about U.S. president Barack Obama‘s proposed “neighborhood engineering” efforts.
Missed that? It’s scary stuff – yet another example of government extending its reach into our lives in explicit defiance of freedom and free markets.
Even scarier? What’s going on in South Africa.
It’s called “expropriation,” and it would give government officials the right to unilaterally seize property in the name of achieving an equitable balance between white and black land owners. Not only would property owners be forced to give up their land, there’s no “just compensation” or “fair market value” requirement associated with the seizure.
Government would simply take … and pay what it wanted.
Expropriation has been attempted in South Africa twice before – in 2008 and 2013 – but each time the measure failed due to constitutional concerns.
The goal of the program? To transfer up to one-third of the country’s farmland from white to black owners as part of “property reparations” from the apartheid era, which ended in 1994.
We understand the desire to right historical wrongs, but attempting to impose a new social order via the effective elimination of private property rights is insane – and would have severely harmful effects on the South African economy. Look no further than neighboring Zimbabwe, where aggressive expropriation has caused a collapse in private investment and a surge in dependency.
Expropriation has also empowered the regime of Robert Mugabe – a brutal tyrant with an abysmal record on human rights issues.
Property rights are essential to the proper functioning of the free market. And governments exist to protect those rights – not usurp them. Sadly, America continues to veer further in the direction of despots like Mugabe as opposed to advancing freedom and free markets for all people.