LECTURE - Capital & Poverty, Part 3 - 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 3 - Professor Russell explores de Soto's discussion of the origination of formal legal structures including the codification of pre-existing norms & practices. He concludes this part with a description of de Soto's two legal principles.

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