The Mystery Explained, July 15, 2002

The author and his colleagues didn't treat this question as a mere intellectual enterprise, but went into the field - the burgeoning underground economies of the Third World - to find the answer. And the answer they found was deceptively simple.

The problem, he argues, is not capitalism, per se, but inadequate property systems either through the inability of law to keep up with economic reality or counterproductive regulation. Inadequate recording systems, limitations on commercial activities and barriers to entrepreneurship in developing and former communist countries prevent the use of assets to generate growth capital that is identifiable, transferable and able to grow.

The book is easily approachable and not too overlong (the text is a mere 228 pages, including charts). It spells out the author's thesis clearly in the first chapter. In later chapters he discusses the historical evolution that occurred in the United States that has allowed "dead" capital to be brought to life to the benefit of all and the steps that must be undertaken to achieve such a system in the developing and former communist countries.

Be warned, however, (and this is the reason why the book doesn't get 5 stars) that the second and third chapters are needlessly (and annoyingly) repetitive, covering the same ground over and over again, often using the same words. The first three chapters might easily have been boiled down to one. But persevere. The remaining chapters are worthwhile.

Great software for my business!!!, July 13, 2002

Recommendation: Strong Buy