The Mystery of Capital - Chapter 1

An extract from Hernando de Soto''s revolutionary new book, The Mystery of Capital: why capitalism works in the West but fails everywhere else.

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Third World and former communist nations do not have this representational process. As a result, most of them are undercapitalized, in the same way that a firm is undercapitalized when it issues fewer securities than its income and assets would justify. The enterprises of the poor are very much like corporations that cannot issue ...

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