Hernando de Soto Honored by CIPE

At a special event this past Monday, we awarded Hernando de Soto the first CIPE partner award for his contributions to democratic and market oriented reform in Peru and in countries around the world, recognizing him as the first and one of the most outstanding CIPE partners.  Senator Richard Lugar remarked at the occasion that:

“Hernando de Soto… has done so much to promote the principles of property rights, entrepreneurship, and market economics. His innovative work has changed fundamental terms of reference regarding how best to reduce poverty and build healthy societies.”

In the future the award, which will be named in honor of Hernando de Soto, will be awarded to CIPE partners that have followed in Hernando’s path – through enfranchising those who toil in the informal sector with the rights and responsibilities of ownership and citizenship. 

In his acceptance speech Hernando remarked how democracy can sometimes be a concept, the importance of which cannot be easily explained to a peasant farmer.  But democracy can become something tangible when that farmer has to go through a democratic process to defend his property rights.

If a farmer is granted property rights to his land and he will soon wonder how a dispute is settled when it arises,  leading the search for the the rule of law.  Once the rule of law is established, the farmer will naturally wonder who made these laws, bringing them to the full realization of the importance of an open and transparent system of legislation with accountability enforced through regular elections.

The evolution of this understanding cannot be forced upon an individual, but it must come about through realization by citizens that their lives and interests are enriched and protected through property rights, rule of law, and the democratic process.

Published Date: October 29, 2009