Modern History Project

"A little learning is a
dangerous thing"

"Since January 24, when South African power utility Eskom shut down South Africa's mining sector, little time has been available to calculate the potential direct and indirect damages... AngloGold Ashanti, a Tier I global gold digger, said it anticipated losing about 400,000 ounces of gold from its South African operations in 2008. Even that assumes that a perfect and sustainable 90% power supply is achieved for the remainder of the year." -- MoneyWeb, South Africa

Ayn Rand's classic "Atlas Shrugged" describes the pattern: A society dominated by socialist political hacks and incompetent freeloaders collapses rather quickly once the "men of the mind" decide -- for whatever reason -- to stop maintaining it, and the productive machinery grinds to a halt. No nation is immune to this disease, but some are more susceptible than others. Take Zimbabwe, for example...