The Mystery of Capital
Why Capitalism Triumphs in the West and Fails Everywhere Else
By (author) Hernando De Soto
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Mystery of Capital by Hernando De Soto
Book Description"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 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 informal, extralegal ownership to a formal, unified legal property system. 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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Book DetailsISBN: 9780465016150
(203mm x 135mm x 19mm)
Imprint: Basic Books
Publisher: The Perseus Books Group
Publish Date: 18-Jun-2003
Country of Publication: United States
Books By Author Hernando De Soto
Mystery of Capital, Paperback (November 2001)View all books by Hernando De Soto
Hernando de Soto offers radical and yet convincing arguments on the reasons why capitalism only seems to work in some nations, mainly the ones in the northern hemisphere, and fails consistently in the rest of the world.
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Author Biography - Hernando De Soto
Hernando de Soto is President of the Institute for Liberty and Democracy (ILD), headquartered in Lima, Peru. He was named one of the five leading Latin American innovators of the century by Time magazine in its May 1999 issue on "Leaders for the New Millennium." De Soto played an integral role in the modernization of Peru's economic and political system as President Alberto Fujimori's Personal Representative and Principal Adviser. His previous book, The Other Path, was a best seller throughout Latin America and the U.S. He and ILD are currently working on the practical implementation of the measures for bringing the poor into the economic mainstream introduced in The Mystery of Capital. He lives in Lima, Peru.
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