Thursday, December 9, 2010

Your Great-Great-Great-Great-Granddaddies

John Stossel: Why do poor people remain poor? | Washington Examiner: "'Oh, yes. Of course. But let me tell you, bringing in the rule of law is no easy thing.'

De Soto started his work in Peru, as an economic adviser to the president, trying to establish property rights there. He was successful enough that leaders of 23 countries, including Russia, Libya, Egypt, Honduras and the Philippines, now pay him to teach them about property rights. Those leaders at least get that they're doing something wrong.

'They get it easier than a North American,' he said, 'because the people who brought the rule of law and property rights to the United States (lived) in the 18th and 19th centuries. They were your great-great-great-great-granddaddies.'"