De Soto

Hernando de Soto was a prominent Peruvian economist and author known for emphasizing the importance of property rights and formalized assets for economic development. He argued that when individuals and businesses can legally own, use, and transfer property—like land or equipment—they gain security and incentives to invest and innovate. This process helps foster entrepreneurship, access credit, and accelerate economic growth, especially in developing countries where many people lack formal property rights. De Soto’s work highlights how formal property systems are vital for integrating the informal economy into the broader financial and legal framework.