Essays on The Mystery of Capital - Why Capitalism Triumphs in the West and Fails Everywhere Else - by Hernando De Soto Book Report/Review

Download full paperFile format: .doc, available for editing

The paper “ The Mystery of Capital   - Why Capitalism Triumphs in the West and Fails Everywhere Else - by Hernando De Soto” is a dramatic example of book review on social science.   A variety of books, like The Noblest Triumph by Tom Bethell and the Property and Freedom by Richard (Harvard historian) have increased our understanding of the pivotal role the property has in both freedom and the economic development, However, after it had won nine awards that were prestigious (right from the mainstream economy as well as public affairs organizations), The Mystery of Capital, Written by Hernando de Soto and the most current property trilogy, is viewed as one of the most outstanding books elaborating the economic aspects in a simpler, breathtaking way.

As the Institute of Liberty and Democracy’ s president in Peru, De Soto and his research team have studied to a great extent various countries’ informal sectors and the extralegal existing there, hence the thesis of this book is completely mind-blowing more so in the case where the future influence of the book is put into consideration. There has never been such a book thesis that greatly initiates direct arguments like the one proposed by Dr.

Hernando De Soto, and therefore, with the given rave reviews of this book, his second one, we are forced to meet head-on his claims and express our view and skills in these claims. With the absence of the greatly qualified adherents of such literature, I have given myself this duty. The Mystery of CapitalThe most outstanding aspect of this book is the way De Soto further expands on how the secure, permanent, and established property rights greatly affects the development of the capital proper, which signifies the use of one’ s property as a way of getting credit for the generation of further investments According to him, therefore, the property produces a multiplier effect which definitely generates economic growth. De Soto as well argues that this role of the property was much investigated and realized by Marx, thereby providing the foundation for the critique of capitalism by the Marxists.

Works cited

De Soto, Hernando. The Mystery of Capital: Why Capitalism Triumphs in the West and Fails Everywhere Else.New York: Basic Books, 2003.

Konig, David T., "Community Custom and the Common Law: Social Change and the Development of Land Law in Seventeenth-Century Massachusetts," in Land Law and Real Property in American History: Major Historical Interpretations, ed. Kermit Hall. New York: Garland Publishing, 1997, p. 339. Quoted on page 112.

Alvarado, Ruben. A Common Law: The Law of Nations and Western Civilization. Aalten, the Netherlands: Pietas Press, 1999.

Bellomo, Manlio, The Common Legal Past of Europe 1000-1800, transl. Cochrane, Lydia

Washington DC: the Catholic University of America Press, 1995.

Alvarado, Ruben, An Outline of the Common Law: I. The Private-Law Nature of the Common Law. New York: WordBridge Publishing, 2000.

Smith, Barry et al. (eds.), The Mystery of Capital and the Construction of Social Reality, Chicago: Open Court, 2008.

Samuelson, Robert J. "The Spirit of Capitalism", Foreign Affairs. (6)2001: 76-79.

Download full paperFile format: .doc, available for editing
Contact Us