Thursday, January 6, 2005 - The Progress & Freedom Foundation Blog

All this talk about capital...

By the way, if I am yammering on about capital so much, it is for two reasons: One, I am just finishing Hernando de Soto's The Mystery of Capital: Why Capitalism Triumphs in the West and Fails Everywhere Else. This is a remarkable volume by the former Peruvian Finance Minister and deserves all the acclaim it receives. DeSoto emphasizes the transforming power of capital to bring economic prosperity to the Third World, and the necessity for property rights and law to bring that about. Second, I have recently spent some time with John Rutledge, who similarly speaks of the hospitality toward capital as determining the relative levels of prosperity.

Marx was right, it was Das Kapital.

posted by Ray Gifford @ 5:51 PM | General