Tag Archives: hernando de soto

Special Report: The haves, the have-nots and the dreamless dead | Reuters

Wealth concentration. Pay attention. This will become the new metric.

Kapur told clients in 2005 that the United States and a handful of other economies were developing into “plutonomies” where the wealthy few powered economic growth and consumed much of its bounty, while the “multitudinous many” shared the leftovers.

Plutonomies come around only once or twice a century, he argued — 16th century Spain, 17th century Holland, the Gilded Age. The last time it happened in the United States was during the “Roaring 1920s”.

There was money to be made by buying shares of luxury companies that made toys for the rich, he told clients, suggesting a basket of stocks that included upscale retailer Burberry and luxury home builder Toll Brothers.

“When I presented this to clients, they said, ‘Okay, this is interesting because you’re telling me what happened in the 1920s is happening right now, and you obviously know what happened after 1929, right?’,” Kapur said in an interview.

His response? That can’t happen again because we know better now.

“To be perfectly honest…. I certainly didn’t think it would all melt down in 2007. I’d be lying if I said that.”

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Slipping off the Grid, or, How to Start A Revolution Without Even Trying | Peter Mehit

The sixth person we know personally is about to lose their home. We know a lot of small business owners and they are being crushed out of existence between unmanageable debt and evaporating customers. How far they will go down, since the number of jobs employing their college educated skills is trending to zero, we do not know, but they are no longer property owners. This is bad for all of us.
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Hernando de Soto – IT’S ABOUT PAPER NOT BUBBLES: Stopping the Meltdown

IT’S ABOUT PAPER NOT BUBBLES: Stopping the Meltdown

I recently received the following mail from Marshall Thurber, who studied and worked with R. Buckminster Fuller and W. Edwards Deming as well founded the Positive Deviant Network, about an article written by Hernando De Soto. Mr. De Soto, a Peruvian economist whose work focuses on the impact of the absence of a formal property ownership system in under-developed countries and how that lack of rights leads to endless poverty. Mr. De Soto has won numerous awards including the Milton Friedman Prize for Advancing Liberty and the Bradley Prize for outstanding achievement by the Bradley Foundation.

In this article, with Marshall’s preface included, Mr. De Soto discusses the real causes and dangers of our current economic situation:

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