The Peruvian development economist Hernando de Soto has argued that much of the developing world will fail to reap the benefits of capitalism until they relax the property rights offered by their legal systems.

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Hernando de Soto argues that the developing world needs to strengthen and formalize property rights, not relax them, to enable people to leverage their assets and participate effectively in capitalism.

The Peruvian Development Economist Hernando De Soto Has Argued That