President Interested in De Soto's Idea
Wednesday, 08 November, 2006 | 16:07 WIB

Tempo Interactive, Jakarta: President SBY has stated that he was interested in Hernando de Soto's “recipe” for improving the well-being of poor people.

In his meeting with the President yesterday, the renown Peruvian economist set forth the significance of providing poor people or informal economic groups with access to information and the economy.

In a lively discussion over breakfast at the Presidential Palace yesterday (11/7), De Soto acknowledged that the President had asked for his opinion on many matters.

He said he was also amazed because the President had read two books that he written.

“The President asked many questions about actual issues in the world in accordance with weak law upholding, transparency and minimum access for poor people,” said the author of The Other Path and The Mystery of Capital.

De Soto then conveyed his thoughts that the government can start eradicating poverty by improving the distorted economic system.

“The first step would be diagnosing the legal factors that support the improvements in the first place,” said De Soto.

According to him, poor and marginalized groups do not necessarily have to join with the existing economic system.

However, the most important thing is that they can use their assets for improving the economy.

“I am sure that the government could take my ideas in consideration when issuing economic policies,” he said.

Presidential spokesperson Dini Patti Djalal went on to say that President and De Soto also discussed fundamental matters in developed and developing countries as well as those that have just exited communism in eradicating poverty.

“It is by inviting the groups that are still outside the system to join with formal economics,” said Dino quoting De Soto.

“If they are still outside, they can be the source of violent conflict.”

In addition, Dino said, “If law upholding is extended to reach most of the population, poverty eradication will occur.”

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