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  • The 2017 Global Award for Entrepreneurship Research goes to Hernando de Soto

    The 2017 Global Award for Entrepreneurship Research goes to Hernando de Soto

    The Global Award for Entrepreneurship Research is the most prominent international award in entrepreneurship research with a price sum of EUR 100,000. De Soto’s analyses have had tremendous influence on policy throughout the world and were a main source of inspiration for the World Bank’s Doing Business program. Read More
  • 2017 Award Winner

    2017 Award Winner

    Hernando de Soto Peru  Institute for Liberty and Democracy For developing a new understanding of the institutions that underpin the informal economy as well as the role of property rights and entrepreneurship in converting the informal economy into the formal sector.   Read More
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The defining battle of the 20th Century was the fight between communism and capitalism. In the end, capitalism triumphed, but in its wake, it created a small cabal of elites, and endless poverty.



Throughout the world, the top echelons of the workforce are receiving higher wages, while the rest of the workforce is being left behind.In a survey by leading labour economists, the CEO of leading companies in the US now earns more than 400 times the lowest paid workers.

In Kenya, the gap between the highest-earning worker and the lowest-earning worker is now almost the same as the United States- 400:1.

As Peruvian property rights economist Hernando De Soto notes, higher wages for workers and improved job opportunities bring more workers to the tax bracket, leading to more income, more peaceful and stable families, less crime and more prosperity for the nation in general.


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