Hernando de Soto (economist)
Hernando de Soto (1941-) is a Peruvian economist known for his work on the informal economy and on the importance of property rights. He is the president of Peru's Institute for Liberty and Democracy (ILD), located in Lima.
De Soto has been praised by U.S. presidents from both major parties, with Bill Clinton calling him "The worlds greatest living economist", George H. W. Bush saying that "De Sotos prescription offers a clear and promising alternative to economic stagnation" and Ronald Reagan saying "De Soto and his colleagues have examined the only ladder for upward mobility. The free market is the other path to development and the one true path. It is the peoples path it leads somewhere. It works." He has also received praise from United Nations Secretaries-General Kofi Annan"Hernando de Soto is absolutely right, that we need to rethink how we capture economic growth and development"and Javier Perez de Cuellar"A crucial contribution. A new proposal for change that is valid for the whole world."De Soto is also mentioned prominently in The Age of Turbulence by Alan Greenspan.
Soto, Hernando De. The Other Path: The Invisible Revolution in the Third World. Harpercollins, 1989. ISBN 0060160209
Related websites
Competitiveness of the Small and Medium Business, road to development
Institute for Liberty and Democracy website
CNNFN Video Interview with Hernando de Soto
A highly critical review in the British newspaper The Guardian
One On One with Hernando de Soto
Read the full article about Hernando de Soto (economist)
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