The Mystery of Capital: Why Capitalism Triumphs in the West and Fails Everywhere ElseA renowned economist's classic book on capitalism in the developing world, showing how property rights are the key to overcoming poverty "The hour of capitalism's greatest triumph," writes Hernando de Soto, "is, in the eyes of four-fifths of humanity, its hour of crisis." In The Mystery of Capital, the world-famous Peruvian economist takes up one of the most pressing questions the world faces today: Why do some countries succeed at capitalism while others fail? In strong opposition to the popular view that success is determined by cultural differences, de Soto finds that it actually has everything to do with the legal structure of property and property rights. Every developed nation in the world at one time went through the transformation from predominantly extralegal property arrangements, such as squatting on large estates, to a formal, unified legal property system. In the West we've forgotten that creating this system is what allowed people everywhere to leverage property into wealth. This persuasive book revolutionized our understanding of capital and points the way to a major transformation of the world economy. |
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Why Capitalism Triumphs in the West and Fails Everywhere Else Hernando De Soto. " The blueprint for a new industrial revolution . " -THE TIMES ( LONDON ) THE MYSTERY OF CAPITAL WHY CAPITALISM TRIUMPHS IN THE WEST AND FAILS EVERYWHERE ...
Why Capitalism Triumphs in the West and Fails Everywhere Else Hernando De Soto. " The blueprint for a new industrial revolution . " -THE TIMES ( LONDON ) THE MYSTERY OF CAPITAL WHY CAPITALISM TRIUMPHS IN THE WEST AND FAILS EVERYWHERE ...
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Adam Smith advanced nations American apartheid areas bell jar Bruno Leoni buildings businesses capitalist cities citizens claim associations Claim Clubs colonial Congress create capital dead capital developing and former developing countries economic elites enforce entrepreneurs erty extrale extralegal arrangements 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 industrial institutions investment land lawyers legal property system legal system live mandatory law maps Marx ments migrants million miners Mystery of Capital nomic official law organizations owners ownership percent Peru political politicians poor population Port-au-Prince potential preemption procedures production property law property rights protect real estate records reform Registry Revolution Rural settlement settlers social contracts society squatters squatting statutes surplus value Third World tion tomahawk rights transactions United urban West Western World and former