Description: (Peruvian Economist Known for His Work on the Informal Economy)
Hernando de Soto is a Peruvian economist known for his expertise in the informal economy and advocacy for business and property rights. As president of the Institute for Liberty and Democracy (ILD) in Lima, Peru, he has gained global recognition for influential publications like The Mystery of Capital. His advisory role in Peru contributed to the implementation of neoliberal policies under Alberto Fujimori's government, leading to economic stability. Internationally, he influenced macroeconomic strategies such as the Washington Consensus and supported free trade agreements like NAFTA, earning praise from notable figures like Milton Friedman and Bill Clinton.