"Mystery of Capital" (02:11)
Hernando de Soto's book shows how an absence of property rights leads to poverty in developing countries, and explores why capitalism only succeeds in the West.
Developing Country Poverty (01:27)
De Soto explains his theory that property rights create wealth.
Rights of Possession (02:26)
De Soto explains how Peru's civil war led him to develop his property rights theory and bring landless peasants into the formal economy.
Democratizing Land Ownership (01:14)
De Soto explains how property reformed feudal oligarchies; the concept has a revolutionary connotation in Latin America.
Living Outside the Law (01:59)
De Soto discusses de facto land ownership in developing countries. Residents risk dispossession, and can't take loans to invest in businesses.
Informal Economy (01:12)
Legitimizing property for business investment is a long process in developing countries. De Soto estimates four billion people operate without paperwork.
Empowering the Poor (01:06)
De Soto is encouraged by governments in developing countries granting property rights.
North American Shadow Economy (01:53)
De Soto discusses how unrecorded assets led to the Wall Street credit crunch, and how property rights have evolved.
Addressing the Economic Crisis (03:00)
De Soto explains how untraceable toxic assets are causing market mistrust and creating the credit crunch.
Uncovering Toxic Assets (01:56)
De Soto advocates nationalizing banks to avoid market panic, and explains why legalized property rights are crucial for development.
Credits: The Mystery of Capital (00:14)
Credits: The Mystery of Capital
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