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  • How Bitcoin Will End World Poverty- Interview

    SINGER: Okay. The Institute for Liberty and Democracy in Peru, I really think Hernando de Soto should win the Nobel prize for the work he’s done. I hope he does. But he’s going around the world and identified one of the most powerful things to the economy and the creation of wealth. And that is the ownership of property. FORBES: Which you can then use as collateral.  Read More
  • Why Thomas Piketty is wrong about capital in the 21st century

    Thomas Piketty’s book Capital In The Twenty-First Century has attracted worldwide attention, not because he crusades against inequality –many of us do that– but because of its central thesis, based on his reading of the 19th and 20th centuries, that capital “mechanically produces arbitrary, unsustainable inequalities”, inevitably leading the world to misery, violence and wars and will continue to do so in this century. Read More
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ILD in the News

One of the challenges facing the Buhari administration is widespread poverty across the land. The situation appears to have been worsened by the failure of successive governments to implement effective poverty alleviation measures.

Every year, on July 28, Peru’s Fiestas Patrias celebrates the country’s independence. In light of the historic day, here are just five facts that you may  not have known. What would you add to the list?

 Hernando de Soto, one of the minds behind Peru's 20 years of economic ascendancy, was one of the first economists to notice the direct correlation between rather simple legal systems and high economic development and social inclusion.

 

There is a famous economist named [Hernando] de Soto who did some studies on Libya. I contacted him as early as 2003 out of research interest to talk about to how an informal economy can be changed into a formal economy, how it is that we have a 1.750 million square kilometres in Libya and yet how much of that can be collateralised to guarantee loans for young people, for example. It’s less than .00001 percent because there is no land registry, no clear title, and no way of valuing, no credit bureau that can give credit worthiness reports.

 I certainly picked the brains of everyone who would tolerate me and the topics were broad. Everything from encoding personal identity  and property rights into the blockchain to making elections transparent. Hernando de Soto was a standout. His book The Mystery of  Capital was most talked about. Bill Tai loaned me his copy to read on the beach while I was there.

 Like many Western academics on a tight budget when faced with poor and nonsensical statistics outside Western nations, Piketty takes European indicators and extrapolates them on to such countries to draw global conclusions. This ignores the fact that 90 percent of the world population lives in developing countries and former Soviet states, whose inhabitants produce and hold their capital in the informal sector, that is to say, outside of official statistics.

27th July 2015/ Saul Elbein

De Soto argued that Peru’s terrible land rights record has created an opening for the radical left: “Call me a useful idiot,” he told El Comercio, but the government has to give ground if it wants mining investment to continue. “It’s a problem of property, of who the land belongs to.”

The ILD and Former Terrorists agree that Property Rights are Fundamental for a solution to the Mining Conflict

The ILD and former members of the Shining Path continue to make headlines with recent meetings, 25 years after the height of the former radical communist movement that led to all out warfare in Peru. In a symbolic event held on July 17th, 2015 the ILD, led by ILD's Hernando de Soto became the first group of outsiders in the last 40 years to debate members of the former Shining Path at the birthplace of the communist movement, San Cristóbal of Huamanga University.

Wednesday July 15, 2015  | 11:00 a.m.

De Soto has a proposal to solve social conflicts that arise around mining projects: make communities and citizens owners of mining.

 

Hernando de Soto

Hasta ahora, los críticos de Piketty sólo han planteado objeciones técnicas a sus malabarismos con las cifras, pero no han impugnado su tesis política y apocalíptica, que es absolutamente incorrecta. Yo lo sé porque en los últimos años mis equipos de investigadores han realizado estudios de campo, explorando países donde campeaban la miseria, la violencia y la guerra, en pleno siglo XXI. Lo que descubrimos fue que lo que la gente realmente desea es más capital, no menos, y quieren que su capital sea real y no ficticio.

 


So far, Piketty’s critics have offered only technical objections to his number crunching without contesting his apocalyptic political thesis, which is clearly wrong. I know this because over the last years my teams conducted research in the field exploring countries where misery, violence and wars are rampant in the 21st century. What we discovered was that most people actually want more rather than less capital, and they want their capital to be real and not fictitious.

 


Domingo 05 de Julio del 2015 | 09:33 AM

Hernando de Soto, presidente del ILD, expresa su preocupación por la polarización generada entre minería y agricultura. El sendero De Soto. El economista dice que los ex senderistas que lo buscaron le dijeron: “Ha habido Sendero, el otro Sendero y ahora queremos el nuevo Sendero”.

 

CNBC

De Soto, an advisor to 20 nations on economic policy and president of the Institute of Liberty and Democracy, basically lays out the fundamental reason capitalism works, where it works and why it has never rooted in "the other" countries that are home to 4 billion people. He offers recommendations about how to unlock the potential of those people. 

Businesswire

June 25, 2015 12:00 PM

SAN FRANCISCO--(BUSINESS WIRE)--BitFury Group, the leading Bitcoin Blockchain infrastructure provider and transaction processing company added Dr. James Newsome, ex-Chairman of the Commodity Futures Trading Commission (CFTC) and former CEO of the New York Mercantile Exchange (NYMEX) and Hernando de Soto, the President of the Institute for Liberty and Democracy (ILD), to its advisory board.

Hernando de Soto Polar, a Peruvian economist known for his work on the informal economy and on the importance of business and property rights, in his book El Otro Sendero (1986) (published in English in 1989 as The Other Path) argues that excessive regulation in the Peruvian (and other Latin American) countries forced a large part of the economies into informality and thus stifling economic development.

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