Author: Soto Hernando De
Place: Great Britan
Publisher: Black Swan
Year: 2001
Pages: 275
ISBN: 0-552-99923-7
Subject: Economic
Sub-Subject: Economic Development
Keyword: Capitalism, Property Rights, Informal Economy, Economic Development
Classification: 300
Shelf: C2R1
Accession No: B330
Contents: 1- The Five Mysteries of Capital 2- The mystery of Missing Information 3- The Mystery of Capital 4- The Mystery of Political Awareness 5- The Missing Lessons of US History 6- The Mystery of Legal Failure: Why Property Law Does Not Work Outside the West 7- By Way of Conclusion
Abstract: The Mystery of Capital explores why capitalism thrives in the West but struggles elsewhere. Hernando de Soto identifies five central “mysteries” of capital, emphasizing how missing information prevents assets from being fully utilized. He argues that secure property rights, effective legal frameworks, and institutional knowledge are crucial for turning assets into productive capital. Drawing on U.S. history, the book shows how clear property laws and political awareness enabled economic growth, lessons largely absent in non-Western contexts. By combining historical, legal, and economic analysis, de Soto explains the West’s capitalist success and highlights why many developing countries face persistent barriers to economic development.