The Mystery of Capital
Just finished reading The Mystery of Capital: Why Capitalism Triumphs in the West and Fails Everywhere Else.
A really really good book. It describes the developing world's economic problems.
The greatest source of failure n the Third World and ex-communist countries is the lack of a rule of law that upholds private property and provides a framework for enterprices. This makes it impossible to turn assets from "dead" into "liquid" capital.
February 18, 2003 11:12 PM | Posted in Interesting
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