The Mystery Of Capital Why Capitalism Succeeds In The West And Fails Everywhere Else

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Basic Books, Sep 6, 2000 - Business & Economics - 288 pages
"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 the question that, more than any other, is central to one of the most crucial problems 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 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 informal, extralegal ownership to a formal, unified legal property system, but in the West we've forgotten that creating this system is also what allowed people everywhere to leverage property into wealth. This persuasive book will revolutionize our understanding of capital and point the way to a major transformation of the world economy.

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User Review  - Indrit - LibraryThing

I have had the privilege of meeting the Hernando de Soto back in 2006 while attending training at his Institute for Liberty and Democracy in Lima. I can count among those who have also implemented in ... Read full review

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User Review  - ShadowBarbara - LibraryThing

Excellent overview of how we use property to create capital and how most of the world does not have a system for documenting ownership. Most people live in an extralegal system. Has recommendations for changing the systems so that real capitalism can work. Read full review

Contents

CHAPTER
1
CHAPTER
15
CHAPTER THREE
39
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