The Mystery Of Capital By Richard Mcgregor - 1605 Words

Economics is something that most people don’t understand such as; what is so important about it? One major portion of economics is the fact that if we did not have this one word we most likely not be able to have a free market as well as prosperous nations all around the world. Yet Hernando DeSoto author of The Mystery of Capital conveys the idea that the markets in other countries around the world are different because of the system that each set country has. For example a country with a government that keeps â€Å"their peoples and nations in hopeless poverty† and nothing can help unless they change the way the run the country. Richard McGregor author of The Party: the Secret World of Chinas Communist Rulers speaks more in depth of what†¦show more content†¦DeSoto talks about something else that he argues that is necessary for capitalist economy to produce wealth which would the location in which the conduct their jobs. If the jobs are located in a place whe re investors can’t reach them or hear about what work they conduct it won’t help, but rather send them lower into bankrupt. He argues that if the people that are conducting these works don’t own interests in the property because they don’t have a â€Å"representational process† everything that they produce will amount to nothing for them and anyone else that is interested in investing. This is called â€Å"dead capital† is something that can’t be used as an investment. This is what the poverty countries don’t seem to comprehend. One main reason for this is because people in poor country don’t understand what the west has and that would be that if you don’t have property rights then in reality all you have is a location that provides abundance but nothing that can be used or sold. The west is a point in every other nation that is something they admire because they have created something that they do not have. Anot her obstacle to get over would be the point that â€Å"property rights† should be â€Å"enforced and made accessible† because if this occurs the poverty line will lower and there will for this from other locations around other nations. An additional term that isShow MoreRelatedEconomic Growth And Its Implementation1740 Words   |  7 Pagescapitalist ideals, free markets combined with a limited government will result in growth, freedom, and a prosperous economy. The Mystery of Capital outlines the importance of capitalism in economic prosperity, but Hernando DeSoto explains that capitalism alone is not enough, we also need to look at something else that allowed the West to prosper under capitalism. 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