The Innovadores de América movement has included Hernando de Soto among its icons and legends, considering him the "creator of revolutionary ideas to eradicate global poverty", in reference to the programs that he and the ILD designed to grant property rights to the poor and help them create capital, join legal markets, and thrive in them".
Revolutionary ideas to eradicate global poverty
Freedom and Democracy Institute In 1980 in order to forward his ideas De Soto founded the Freedom and Democracy Institute (IDL by its abbreviation in Spanish). Through this Institute, De Soto urges governments of underdeveloped countries to simplify the process of granting title deeds. An institution that intends to change the world radically, that is why its facilities (as has frequently happened to De Soto himself) have been bombarded or shot at by terrorists groups. Nevertheless, De Soto continues on unstoppable; and only in Peru he was responsible for 400 proposals, bills and regulations that have resulted in the modernization of the country’s economic system, granting title deeds to over one and a half million families.
“Market global economy is an economy developed on paper. You do not purchase and sell apples, but rather purchase and sell a contract on apples; first comes the document, then the apples. Those documents are the ones that have given so much success to the market economy, because it allows the acknowledgement of risks and receive assets, through the use of written formulas.” De Soto is not merely a theoretician wearing a tie and seating comfortably at the Institute’s headquarters, but frequently gets his shoes dirty: he is no stranger to the poor villages of Peru, Bali, Egypt or Haiti, meeting not only with entrepreneurs and factory owners but also with the owners of the food stands.
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