LECTURE - Capital & Poverty, Part 2 - Hernando de Soto, "The Mystery of Capital"

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This lecture focuses on Hernando de Soto’s claim that a major contributor to poverty in the developing world is not so much a lack of property itself as a lack of the legal means to represent property as financial assets that can be used to create capital, the wealth that people use to create more wealth.

Part 2 - Professor Russell discusses de Soto's research into the effects of access to formal vs informal legal structures, including the famous finding that the average time to establish a small business in Peru would be 300 work days.

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