Property Rights, Legal Protection and Financial Sector Development

One of the biggest puzzles discussed by economists is global welfare distribution, particularly poverty. Why is the number of people profiting from the technical advantages that emerged over the last centuries so low? A prominent voice in this discussion is Hernando de Soto. He argues that the reason why so many are living under such unpleasant conditions is mainly the result of bad law and in particular the absence of legal rights. This book tries to analyse what effect property rights and legal protection have on people living at the base of the economic pyramid. It is based on the arguments and observations of Hernando de Soto and compares it with other authors contributing to the topic.