Hernando De Soto

About the Author

Hernando de Soto is a renowned Peruvian economist and author whose groundbreaking work has reshaped global understanding of economic development and property rights. Born in 1941, he founded the Institute for Liberty and Democracy in Lima, where he has advised governments worldwide on informal economies and legal frameworks that empower the poor. De Soto's seminal book, The Mystery of Capital: Why Capitalism Succeeds in the West and Fails Everywhere Else, argues that the failure of capitalism in developing nations stems not from cultural deficiencies but from the inability of the majority to access and leverage their assets through formal property systems. His insights have influenced policy in over 30 countries, earning him accolades such as the Medal of the Presidency of Peru and the title of 'America's greatest living economist' by The Economist. Through meticulous research and real-world application, de Soto continues to advocate for inclusive economic systems that unlock the vast potential of extralegal assets held by billions.