Tag Archives: Hernando De Soto

How Capitalism Enriches The Poor And The Working Class

When portable radios first appeared in American stores, the average American worker had to labor 13 hours to buy one; today he or she toils for about 1 hour. In the 1920s it took 79 hours of work to buy a nice men’s suit; today it takes less than half that. At the beginning of…

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What Causes Such Shocking Poverty?

Did you know there’s never been a real famine in the United States? One thing alone is responsible for that fact, and that one thing is this: Private property rights. It is the absence of fully protected property that creates poverty. As the brilliant Peruvian economist Hernando de Soto puts it in his book —…

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