More Smart Moves from Mugabe

Robert Mugabe is not known for sound economic judgment and his latest move will not improve his reputation. The parliament of Zimbabwe has passed a bill that will transfer ownership of foreign companies operating in the country into the hands of black Zimbabweans.

This completes his seizure of property owned by Zimbabwe’s white population, which began in 1999 when the state took over the land of white farmers. In a country that lacks the human resource capacity to effectively run these businesses, Mugabe’s plan will ultimately hurt the people of Zimbabwe instead of leveling the playing field. Story from the BBC.