Wednesday, May 4, 2011

The Importance of Economic Facts

Peruvian economist Hernando de Soto has written about the importance of laws and clear title in capitalism. See this review of The Mystery of Capital: Why Capitalism Triumphs in the West and Fails Everywhere Else.

Now de Soto has written an article about the importance of objective facts in making capitalist decisions - who owns what, what something is worth, etc...

de Soto fears we might be getting away from that. He might be right. Good thought piece.

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