Despite accolades from luminaries as diverse as Bill Clinton and William F. Buckley Jr., Peruvian economist Hernando de Soto is quite mistaken in his diagnosis of the real hindrance to economic development in the Third World and former Soviet bloc countries. Rather than the lack of titles to property, the problem is the inadequacy of their domestic savings to finance investment.
|Other Independent Review articles by James C. W. Ahiakpor|
|Spring 2008||Letters to the Editor|
|Fall 2007||On Classical Economics|
|Spring 1999||Ethnic Diversity, Liberty and the State: The African Dilemma|
|[View All (5)]|