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 54
... transactions is hardly encoded in their citizens ' DNA ; it is rather the result of having enforceable formal property systems . Formal property's role in protecting not only ownership but the security of transactions encourages ...
... transactions is hardly encoded in their citizens ' DNA ; it is rather the result of having enforceable formal property systems . Formal property's role in protecting not only ownership but the security of transactions encourages ...
Page 61
... transactions , it is obvious that Western systems emphasize the latter . Security is principally focused on producing trust in transactions so that people can more easily make their assets lead a parallel life as capital . In most ...
... transactions , it is obvious that Western systems emphasize the latter . Security is principally focused on producing trust in transactions so that people can more easily make their assets lead a parallel life as capital . In most ...
Page 62
... transactions allows citizens to move large amounts of assets with very few transactions . How else can we explain that in developing and former communist nations people are still taking their pigs to market and trading them one at a ...
... transactions allows citizens to move large amounts of assets with very few transactions . How else can we explain that in developing and former communist nations people are still taking their pigs to market and trading them one at a ...
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