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The Mystery Of Capital By Hernando De Soto

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The Mystery Of Capital By Hernando De Soto
In his great book, The Mystery of Capital: Why Capitalism Triumphs in the West and Fails Everywhere Else (1941, 2000), Hernando de Soto said, “Much of the marginalization of the poor in developing and former communist nations comes from their inability to benefit from the six effect that property provides.” They are: (1) fixing the economic potential of assets, (2) integrating dispersed information into one system, (3) making people accountable, (4) making assets fungibles, (5) networking people, and (6) protecting transactions (de Soto, 2000:49-62). De Soto (2000:62-63) said, “The six effect of an integrated property process mean that Westerners’ houses no longer merely keep the rain and cold out. Endowed with representational existence, these houses can now lead a parallel life, doing economic things they could …show more content…
And according to Sachs (2005:244) “at most basic level, the key to ending extreme poverty is to enable the poorest of the poor to get their foot on the ladder of development.” They need outside helps or foreign
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