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Hernando de Soto

Hernando de Soto

Hernando de Soto is currently President of the Institute for Liberty and Democracy (ILD) —headquartered in Lima, Peru— considered by The Economist as one of the two most important think tanks in the world.

Time magazine chose him as one of the five leading Latin American innovators of the century in its special May 1999 issue "Leaders for the New Millennium", and included him among the 100 most influential people in the world in 2004. In its 85th anniversary edition, Forbes named Mr. de Soto as one of 15 innovators “who will reinvent your future”. In January 2000, Entwicklung und Zusammenarbeit, the German development magazine, described Mr. de Soto as one of the most important development theoreticians of the last millennium. In October 2005, over 20,000 readers of Prospect magazine of the UK and Foreign Policy of the US ranked him among the top 13 “public intellectuals” in the world from the magazines’ joint list of 100.

Mr. de Soto has served as an economist for the General Agreement on Tariffs and Trade, as President of the Executive Committee of the Copper Exporting Countries Organization (CIPEC), as CEO of Universal Engineering Corporation (Continental Europe’s largest consulting engineering firm), as a principal of the Swiss Bank Corporation Consultant Group, and as a governor of Peru’s Central Reserve Bank.

In recent years, Mr. de Soto and his colleagues at the ILD have been involved in designing and implementing capital formation programs to legally empower the poor in Africa, Asia, Latin America, the Middle East, and former Soviet nations. More than 30 heads of state have invited him to discuss carrying out ILD institutional reform programs to fight poverty and legal exclusion in their countries.

Mr. de Soto has published two books about economic and political development: The Other Path, in the mid- 1980s, and at the end of 2000, The Mystery of Capital: Why Capitalism Triumphs in the West and Fails Everywhere Else. Both books have been international bestsellers – translated into some 20 languages.

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