property: Hernando de Soto on Derivatives & The Function of Publicly Available Property Documentation

One of the great economists of our time, Hernando de Soto, explains how markets and capitalism depend on public documentation, and how the publicly undocumented derivatives industry has thrown sand in the global system of capitalism:

If you think about it, everything of value we own travels on property paper. At the beginning of the . . . → Read More: property: Hernando de Soto on Derivatives & The Function of Publicly Available Property Documentation

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Right after we published our first findings [on path dependence and complexity theory], we started getting letters from all over the country saying, ‘You know, all you guys have done is rediscover Austrian economics’ .. I admit I wasn’t familiar with Hayek and von Mises as the time. But now that I’ve read them, I can see that this is essentially true. — Brian Arthur

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