10 minutes ago
Thursday, December 20, 2001
HERNANDO DE SOTO QUOTE OF THE DAY: "In spite of their obvious poverty, even those who live under the most grossly unequal regimes possess far more than anybody has ever understood. These possessions, however, are not represented in such a way as to produce additional value. When you step out the door of the Nile Hilton, what you are leaving behind is not the high-technology world of fax machines, ice makers, television, and antibiotics. The people of Cairo have access to all those things. What you are really leaving behind is the world of legally enforceable transactions on property rights. In Cairo and similar cities, mortgages and accountable addresses are unavailable even to people who would probably strike you as quite rich." Check out more of his stuff off the publications page of his thinktank, the Institute for Liberty and Democracy. His particular take on 9-11 was a take I think only he could make, especially the stuff about terrorist politicians. I really need to read his book.