Small government and free-market capitalism are about to get put to the test in Honduras, where the government has agreed to let an investment group build an experimental city with no taxes on income, capital gains or sales.
The laws in the city will be separate from those in the rest of Honduras. Strong said that the default law that will be enforced in the city will actually be based on Texas state law, which has relatively few regulations.
“It will be Texas law with more freedom of contract. Texas scores well on state economic freedom rankings,” he explained.
This will be an interesting experiment to watch. Hong Kong 2.0?