Friday, May 18, 2012

Cayman vs Belize: Capitalism vs Statism

To see in a microcosm what the difference is between a free nation and one that practices statism you only have to compare Cayman and Belize.  I spent a week in Belize last year and I can tell you the except for the lush hotels right on the beach, which were off limits to Belizeans most of the people live in dire poverty.  The story is very different in Cayman.   Where are we headed with all our taxation, rules, regulations and our almost police state?  Not anywhere good.  Read "Tale of Two Small Countries" (Washington Times).

Cayman is rich, and Belize is poor. Why? Both are small Caribbean countries with the same climate and roughly the same mixed racial heritage, and both were English-speaking British colonies. Belize (the former British Honduras) received its independence in 1981, while Cayman is still not fully independent but is self-governing at the local level, with its own currency, laws and regulations.

Belize should be richer: It has a larger population than Cayman (345,000 as contrasted with Cayman’s 54,000). Belize has a much larger and more varied land area with many more natural resources, including gas and oil, and some rich agricultural land that Cayman lacks. Both have nice beaches, but Belize has the second-largest barrier reef in the world after Australia and also has Mayan ruins. Yet Cayman, with fewer points of interests, has done more to attract tourists.

Back in the early 1970s, Cayman was as poor on a per capita basis as isBelize today. Both countries had ambitions to be tourist and financial centers. Cayman succeeded and has about six times the real per capita income of Belize. What did Cayman do right and Belize do wrong?
Perhaps most important is that Cayman had and maintained a competent and honest judicial system, which gave foreign investors confidence that their property would be protected. Cayman also has a very low crime rate. Tourists and other visitors walk around freely day or night in Cayman without fear. Unfortunately, the same cannot be said for many parts of Belize, where crime is often a problem. In addition, many judges in Belize are poorly trained, incompetent and, in some cases, corrupt. These issues cause foreign investors to consider higher-risk factors for projects in Belize as contrasted with the rest of article here.

Flight from ObamaCare Starts

Health Reform: Faced with being forced to abandon its conscience while emptying its bank account, a Catholic university finds its students can't keep the health insurance they like as it becomes prohibitively expensive.
Franciscan University of Steubenville, Ohio, finding itself at the nexus of cost and conscience regarding the demands and expenses imposed on it and other Catholic institutions by the onslaught of ObamaCare, has announced it will neither comply nor participate in the nationalization of health care and drop the health coverage it offers to its students.
It's the first shoe to drop in what will be a cascade of such decisions. Franciscan University was able to drop its coverage, but as the U.S. Council of Catholic Bishops has warned, other institutions and charities may be forced to close, sell off their assets or turn them over to secular operators in the wake of ObamaCare's unacceptable mandates and costs.
"This is putting people in a position where they are having to choose between their faith and their morality — and now an unjust cost," said Mike Hernon, vice president of advancement at the university. "These sorts of regulations from the government are forcing our hand in a way that's really wrong."  Read the rest HERE.  First Shoe Drops: Catholic School Drops ObamaCare