What a difference 20 years can make!

In December 2005, socialist Evo Morales emerged victorious as Bolivia’s new president-elect. At a rally of supporters in Cochabamba, he declared, “Beginning tomorrow, Bolivia’s new history really begins: A history where we will seek equality, justice, equity, peace and social justice.”

A funny thing happened on the way to the workers’ paradise.

As socialists always do, Morales taxed, spent, regulated and nationalized. He preached envy, class warfare and “free” stuff. His plan is little more than seizing what some have produced and buying votes from others with it. Buoyed at first by rising worldwide commodity prices, it seemed briefly that he might become the first demagogue since the Big Bang to make socialism work. Then commodity prices plunged, wh

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