Did Hernando de Soto solve the mystery of capital?

Trends in wealth and poverty since the publication of his groundbreaking book.

Over all, most Eastern European, African, Asian, and South American countries are considerably better off than they were 30 years ago, but many post-communist and developing nations still struggle with vast economic inequality, poverty, corruption, and autocracy.

After the dissolution of the Soviet Union when a wave of optimism swept across the West, we …