Episode 121 – The Power of the Poor with Hernando de Soto (Podcast)

In our 2009 documentary, The Power of the Poor, Hernando de Soto and his team of researchers found that an astonishing 98% of all businesses in Peru were extralegal, as was 88% of all rural property. Extralegals had constructed seven out of every ten buildings, had run almost all of its public transportation system, and built and owned the vast majority of Lima’s markets. It was clear the majority of Peru’s entrepreneurs had been locked out of the legal system. De Soto and his researchers at the Institute for Liberty and Democracy would risk their lives to let them in. …