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Hernando de Soto
Basic Books

The Other Path

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AuthorHernando de Soto
PublisherBasic Books
PublishedSep 05 2002
Book FormatPaperback
ISBN-139780465016105
Dimensions7.98 X 5.36 X 1.01 inches
Weight 0.72 pounds
BISAC
CategoriesPolitical Science > Terrorism
LanguageEnglish

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Book Description

In this, his classic book on the informal economy of Peru and the reasons why poverty can be a breeding ground for terrorists, Hernando De Soto describes the forces that keep people dependent on underground economies: the bureaucratic barriers to legal property ownership and the lack of legal structures that recognize and encourage ownership of assets. It is exactly these forces, de Soto argues, that prevent houses, land, and machines from functioning as capital does in the West -- as assets that can be leveraged to create more capital. Under the Fujimori government, de Soto's Institute for Liberty and Democracy wrote dozens of laws to promote property rights and bring people out of the informal economy and into the legitimate one. The result was not only an economic boon for Peru but also the defeat of the Shining Path, the terrorist movement and black-market force that was then threatening to take over the Peruvian government. In a new preface, de Soto relates his work to the present moment, making the connection between the Shining Path in the 1980's and the Taliban today.

Author Bio

Hernando de Soto is a Peruvian economist, scholar, and founder of the Institute for Liberty and Democracy.

De Soto has served as an economist for the General Agreement on Tariffs and Trade, as a principal of the Swiss Bank Corporation Consultant Group, and as a governor of Peru’s Central Reserve Bank. De Soto currently serves as honorary co-chair on various boards and organizations, including the World Justice Project.

In 2005, the president of Peru appointed de Soto as his personal representative to design and implement Peru’s free trade program. De Soto is the author of “The Other Path” and “The Mystery of Capital: Why Capitalism Triumphs in the West and Fails Everywhere Else.” Both books are international bestsellers and have been translated into 30 languages.

The work of de Soto and ILD has been featured in the documentaries “The Power of the Poor with Hernando de Soto,” “Globalization at the Crossroads with Hernando de Soto,” and “Unlikely Heroes of the Arab Spring.” Time magazine named de Soto as one of the five leading Latin American innovators of the century in 1999 and included him among the “100 Most Influential People in the World” in 2004. He is the recipient of numerous awards, including The Economist’s Innovation Award, the Freedom Prize, and the Fisher Prize. Former U.S. president Bill Clinton has described de Soto as “the world’s most important living economist.”

Source: Oslo Freedom Forum

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