In Poprad we had sponsored members of the newly-formed F.A. Hayek Foundation in Bratislava to our conference to meet, mix, and confer with some of the world's top libertarian thinkers.

     Also in that period (June 91 to October 92) our friend Sean Gabb of the London-based Libertarian Alliance www.libertarian.co.uk had been one of the Slovak president's top economic advisors. During his stay in Bratislava Gabb collaborated with ISIL to install a free-market library in the office of the president. The cartons of books shipped by ISIL (Hayek, von Mises, Friedman, Hazlitt, Rand, etc.), became the nucleus of a Christian Democrat library.

     Since then the members of the F.A. Hayek Foundation and its offshoot, the Slovak Taxpayers Association (many of them ISIL members), have played a pivotal role in turning Slovakia around.

     In the August issue of Forbes magazine, Steve Forbes suggested that Slovakia is set to become the world's next Hong Kong or Ireland (i.e. a small place that is an economic powerhouse). In the improved economic environment, Forbes reported that foreign investment in Slovakia has risen dramatically — from $2 billion to $10 billion since 1999.

     And Slovakia is about to enact a 19% flat tax for both individuals and corporations. The death tax is reported to be on the way out. They are also looking at privatizing their social-security system.

     IBM, Volkswagen, Kimberly-Clark and other multi-nationals are already there, and Peugeot is installing a $750 million facility which should be finished by 2006.

     It isn't perfect, of course. There are still problems with corruption, although the government is reported to be making serious efforts to address these problems.

     Forbes summed it all up: "If Slovakia remains on its reform path, it could become the domino that pushes the rest of the EU, particularly 'Old Europe' nations Germany and France, toward a more free-enterprise, entrepreneurial era. That would be good news for everyone."