"Hernando de Soto, of the Instituto Libertad y Democracia in Lima, Peru, discusses obstacles to the development of a social market economy and entrepreneurial activities in the developing countries, focusing particularly on Peru. He explores a number of dissimilarities between developed and developing nations, such as the concept of limited liability, the freedom to contract, the availability of insurance, and administrative decision-making. He also considers how dictatorships affect a country's transition to a market economy and why he believes a developing nation needs an efficient and just political system."
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