Via Reason Youtube
By Zach Weissmueller | Reason
“Próspera is the first time in human history that a group of people has said there’s a way to deliver governing services, privatized for profit in a completely free market way,” says Joel Bomgar, a Mississippi state representative and president of Próspera Inc., the company that’s building a privately run charter city on the Honduran island of Roatán called Próspera Village.
In Honduras, about half of the population lives in extreme poverty, and gross domestic product per capita is 25 times higher than in the United States. And yet the country has abundant natural resources and is close to major shipping lanes.
The problem is governance: Nobody wants to invest in Honduras because the country has a long history of political instability, expropriating private land, and legal agreements that aren’t particularly binding. Honduras is ranked 154th out of 190 countries in contract enforcement on the World Bank’s Ease of Doing Business Index and 133rd overall in ease of doing business.
