The Church of the Poor is Turning ´Free Market´ - and These Are Its Prophets.
A Peruvian economist, a Muslim banker from Bangladesh, and an Indian religious sister are teaching Catholics how to overcome poverty: with the power of capitalism by Sandro Magister
The Mystery of Capital: Why Capitalism Triumphs in the West and Fails Everywhere Else
"The Western nations have so successfully integrated their poor into their economies that they have lost even the memory of how it was done, how the creation of capital began..."
Review at The Economy Project
Review at America magazine.
This interview gets into the nitty gritty of doing business outside the capitalist "bell jar."
PBS Interview with Hernando de Soto
Absence of Property Titles Slows Integration - De Soto
Hernando de Soto Policy Library
5 comments:
What's fascinating about de Soto, is how he returned to the sources of capitalism in order to open up a path of participation for the material well off, but captitally poor. I doubt that his work provides a complete solution, but it does provide an essential key.
You also have to love de Soto's rejection of the myth that the success of American capitalism is due to the cultural influence of the puritan work ethic. Why do so many want to blame all of Americas ills (or blessings) on Calvinism?
Ensure you read the Sane Economy review of his book, which is now provided in the main post.
Why do so many want to blame all of Americas ills (or blessings) on Calvinism? For a quick answer to your question, read "Catholicism, Protestantism, and Social Progress."
As a follow-up, I also suggest that one reads Michael Novak's article "Max Weber Goes Global."
Lastly I would go to my earlier post on this topic - "Max Weber Goes Global".
The review by Edward Hadas at the Sane Economy project was disappointing for its totalizing, knee-jerk response. The America review presented similar criticisms, but in a context that recognized the startling newness of de Soto's insights.
Here's Mr. Hadas:
"Most economists would now admit that industrial development is largely the result of cultural values translated into a variety of social systems. The list of requirements ususally includes a 'work ethic', broad social trust, a cultural openness to change for the sake of perceived economic advantage, a separation of economic from family and other caste structures, enforced laws about all economic matters and honest, trusted and competent government. Experts differ on the relative important and chronological priority of these factors, but most of them have abandoned the notion that there is a single thread which can guide any county through the labyrinth of development. They tend to recommend trying to do a little of everything all at once."
Instead of evaluating the content of de Soto's insights, this piece unfairly attacks the book for what it never intended to do: present a comprehensive solution for poverty.
The notion that entreprenurial people in developing nations remain poor because they have no work ethic is not only ridiculous but also offensive, as de Soto has shown elsewhere.
This kind of hatchet job book review does little to improve the reputation of The Sane Economy Project.
Fred,
You're much more familiar with the thought of de Soto than I. You would hopefully agree that one debatable book review is not a judgment against the entire project, which has enormous value in my mind and several other like minded people. I for one strongly endorse the work that Russell Sparkes, David L. Schindler, Stratford Caldecott, and other leading figures over at the Sane Economy Project - Second Spring. I encourage everyone to review the entire work of this project.
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