[e-cvs] cvs commit: e/doc/talks/pisa/paper index.html

[markm@eros.cs.jhu.edu]

markm       01/12/28 13:14:31

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         tells a complementary story. De Soto can also be understood as explaining 
         differences in economic organization according to differences in the possibilities 
         for trust. However, de Soto's emphasis is not culture but institutions, 
-        and their lack. De Soto's portrayal of the poor within a the third world 
-        village is not one of culturally-based low trust. Rather, it is the painful 
-        lack of the various widely trusted intermediate institutions that catalyze 
-        commerce at a distance in the first world, and that we normally take for 
-        granted.</p>
+        and their lack. De Soto's portrayal of the poor within a third world village 
+        is not one of culturally-based low trust. Rather, it is the painful lack 
+        of the various widely trusted intermediate institutions that catalyze 
+        commerce at a distance, and that we normally take for granted in the first 
+        world.</p>
       <p><b><img src="images/1-hubs.gif" width="347" height="212" align="right"></b>Trust 
         relationships can be thought of as analogous to the airport hub and spoke 
         pattern. (Figure 1). Many small local networks are interconnected on a 
@@ -227,14 +227,14 @@
       <p>One of the depressing features of the pictures painted by both Fukiyama 
         and de Soto is that the only hope they see for these societies is home-grown, 
         with each individual third world nation bootstrapping itself through all 
-        these steps, including, fo de Soto, the evolution of their own hubs; or 
-        the reform and transformation of each society's national government into 
-        a system that may be widely trusted. Well, it took a long time for the 
-        west. If they must recapitulate our path, it will take them a long time 
-        as well, a time during which desperate poverty will remorselessly prevail. 
-        What enablers are available now that were unavailable when the west made 
-        this transition? Might these enablers be used to help accelerate today's 
-        poor through this part of the process of capital formation?</p>
+        these steps, including, for de Soto, the evolution of their own hubs; 
+        or the reform and transformation of each society's national government 
+        into a system that may be widely trusted. Well, it took a long time for 
+        the west. If they must recapitulate our path, it will take them a long 
+        time as well, a time during which desperate poverty will remorselessly 
+        prevail. What enablers are available now that were unavailable when the 
+        west made this transition? Might these enablers be used to help accelerate 
+        today's poor through this part of the process of capital formation?</p>
       <h3><a name="title"></a>The Special Roles of Title and Law</h3>
       <p>In <i>The Other Path</i>, de Soto explained the informal economy and 
         its lack of institutions in general. Eleven years later, after much investigation