Page 20 - CSA Speaker Bulletin September 2017 | CSA Celebrity Speakers
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ECONOMY
An Economic Answer
to Terrorism
After nearly two decades in more efficient means of enforcement” bureaucratic walls.
print, the fundamental pillars (De Soto; 248). Overall, problems were out of hand,
of Peruvian economist and ex- so why not support a tighter grip?
political adviser Hernando de Soto’s Despite a multi-partisan past, De While De Soto could have supported
bestseller, The Other Path, continues Soto’s analysis led many to argue additional regulation, he countered
to resonate with modern economic that his work does uphold logical this trend, explaining that that
security affairs. His argument that argument. One point includes method proves counterproductive.
over-bearing bureaucracy hinders his stated economic beliefs and When society’s poor cannot turn to
developing economies’ success are the strong relationship of trust official authorities for permission
channeled through 1980’s Peru case envisioned being beneficial amid to grow – for example, through
studies that offer further comparative legal and illegal influences. This is residential development or small
perspective to modern crisis. particularly the case when involving businesses – due to over bureaucracy,
the areas of minimal property rights, they occasionally turn toward illegal
However, De Soto stood at a cross underground economies and general authorities. In dealing with the
roads during his political career that lack of security – elements that many Shining Path, De Soto identified
also puts the clarity of his arguments developing world citizens experience. terrorist groups’ strategy in
at risk. While he worked to reform economically enabling faster growth
such regulations, he also worked for No Re-Inventing the Wheel when government red tape would
those behind them. not. This is costly in the big picture,
First, De Soto encourages developing as the ironic increase of law also fed
“Simplification means using countries not to re-invent the wheel the increase of criminal organizations.
techniques already well known as regarding economic elevation, but Read more. n
“de-bureaucratization” in developed to look toward their second and first
countries,” De Soto states, “These world counterparts. As a political *** Reproduced by courtesy of
include replacing rules which specify adviser in Fujimori-era Peru and head Ailana Navarez, Editor-in-Chief
how to fulfill certain requirements of his organization, the Institute for of Pulsamerica Magazine
by rules stating the ends to be Liberty and Democracy, De Soto
achieved. This would lighten the witnessed firsthand the tribulations Hernando de Soto is
burden on those who must obey the of developing countries attempting currently President of the
laws in question, because instead of to correct impoverished and insecure think-tank, Institute for
having to meet certain requirements circumstances via overt regulation. Liberty and Democracy (ILD)
before they can do something, they Peruvians were experiencing daily based in Peru. The ILD has
will instead be monitored afterward constraints, such as “house but not been described as one of the
to see whether they are complying titles; crops but not deeds; businesses most important think-tanks
with the law. Such procedures, which but not statues of incorporation”. in the World and Mr de Soto
emphasize ex post de facto monitoring The government was having trouble as the "World's Greatest
rather than prior paperwork, reduce regulating unofficial endeavors, and Living Economist”.
red tape without abandoning the common man was having trouble
necessary controls but also provide progressing in the face of rigid official
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