Hernando de soto biography economist jokes
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Intro. [Recording date: November 7, 2017.]
Russ Roberts: We're recording this episode of EconTalk in front of a live audience in New York City as part of Atlas Network's Liberty Forum. And I have to say, our hotel is on Broadway, and this is probably as close as I'll get to being, performing on Broadway. I did perform off-Broadway as Adam Smith, but in a certain dimension, this is better. Atlas Network encourages and supports free market think tanks around the world with the goal of increasing economic freedom; and we're going to talk more about their specific activities. We have two guests today: Matt Warner and Simeon Djankov. Matt is the Chief Operating Officer of Atlas Network. Simeon Djankov is Director of the Financial Markets Group at the London School of Economics and he's the creator of the Doing Business Report at the World Bank, which has been mentioned on EconTalk as part of the World Bank's assessment of development efforts and economy policy around the world. The Doing Business Report is an attempt to measure the red tape and other barriers to business activity in now 190 countries. And Simeon is also the former Minister of Finance of Bulgaria, which is an unusual experience for a Ph.D. economist. He's actually done things in the real world. Simeon
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One of the world’s enduring mysteries is why there is such a wide gap in prosperity between the developed nations and those so often referred to as “developing.” Two centuries ago, China was the world’s wealthiest nation, and many of today’s developed countries were still poor by the day’s standards. Including the USA. There exists a plethora of explanations for this discrepancy, which has emerged over the last 200 years. Included are neocolonialism and the ascendancy of the multinational corporation in world affairs. Neither is especially convincing. But one of the most satisfying explanations comes from a noted Peruvian economist named Hernando de Soto who plumbed the connection between capitalism and inequality. He spells it out in detail in The Mystery of Capital, the second of his books describing his life’s work.
Capitalism and inequality
The gist of de Soto’s argument is straightforward. Developed nations have over time adopted a system of property rights that enables those who possess them to unlock their potential as capital through such means as mortgages. Developing countries lack the infrastructure to enforce the property rights of the billions of people who have crowded into shantytowns in major cities or work
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PLSC 270: Capitalism: Success, Calamity, and Reform
PLSC 270 - Lecture 16 - Braudel's Bell Jar
Chapter 1. Entry and Rank Agenda [00:00:00]
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