The Mystery of Capital: Why Capitalism Triumphs in the West and Fails Everywhere ElseWhy does capitalism triumph in the West but fail almost everywhere else? Elegantly, and with rare clarity, Hernando de Soto revolutionizes our understanding of what capital is and why it does not benefit five-sixths of mankind. He also proposes a solution: enabling the poor to turn the vast assets they possess into wealth. |
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Page 41
... things , but it is not itself the progenitor of additional production . As Smith insisted , ' the gold and silver money , which circulates in any country , may very properly be compared to a highway , which , while it circulates and ...
... things , but it is not itself the progenitor of additional production . As Smith insisted , ' the gold and silver money , which circulates in any country , may very properly be compared to a highway , which , while it circulates and ...
Page 50
... things increases infinitely when you focus your thinking on their potential . By learning to fix the economic potential of their assets through property records , Westerners created a fast track to explore the most productive aspects of ...
... things increases infinitely when you focus your thinking on their potential . By learning to fix the economic potential of their assets through property records , Westerners created a fast track to explore the most productive aspects of ...
Page 62
... things they could not have done before . A well - integrated legal property system in essence does two things : first , it tremendously reduces the costs of knowing the economic qualities of assets by representing them in a way that our ...
... things they could not have done before . A well - integrated legal property system in essence does two things : first , it tremendously reduces the costs of knowing the economic qualities of assets by representing them in a way that our ...
Contents
The Five Mysteries of Capital | 1 |
2 The Mystery of Missing Information | 14 |
How Much Dead Capital? | 27 |
Copyright | |
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Adam Smith advanced nations American apartheid bell jar buildings capitalist cent cities citizens claim associations Claim Clubs colonial Congress create capital dead capital developing and ex-communist developing and former developing countries élites enforce entrepreneurs ex-communist countries extralegal arrangements extralegal property extralegal sector extralegal social contracts formal law formal property system former communist countries former communist nations fungible global Haiti Hernando de Soto housing Ibid illegal institutions integrated investment land lawyers legal property system legal system live maps Marx ments Michel Foucault migrants million miners Office official law organizations owners ownership Peru political politicians poor population Port-au-Prince problem procedures production property arrangements property law property representations property rights protect real estate records reform Registry Revolution rules rural settlements settlers shanty towns society squatters squatting statutes surplus value Third World Tomahawk Rights transactions United urban West Western World and former