Volume 6

Excerpts from The Mystery of Capital
Hernando de Soto*

* Reprinted from HERNANDO DE SOTO, THE MYSTERY OF CAPITAL (2000), with permission from the author.

The hour of capitalism’s greatest triumph is its hour of crisis. The fall of the Berlin Wall ended more than a century of political competition between capitalism and communism. Capitalism stands alone as the only feasible way to rationally organize a modern economy. At this moment in history, no responsible nation has a choice. As a result, with varying degrees of enthusiasm, Third World and former communist nations have balanced their budgets, cut subsidies, welcomed foreign investment, and dropped their tariff barriers.

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6 BRIGHAM-KANNER PROPERTY RIGHTS CONF. J. 9 (2017).