Venezuela’s War on Property Rights Will Lead to Greater Poverty

In the aftermath of the recent expropriation of multiple supermarket chains by the administration of Venezuelan President Nicolás Maduro in a bid to curb shortages, the PanAm Post interviewed Luis Alfoso Herrera, coordinator of the Property Rights Observatory at Venezuelan think-tank CEDICE Libertad. In the last five days, the Venezuelan government has arrested at least 17 businessmen, owners, managers, and shareholders, according to the observatory. So far in 2015, the state has raided seven chains and taken possession of seven more, leading Herrera to argue that property rights in Venezuela are a thing of the past. More…