A NEW PATH TO DEVELOPMENT - THE SIGNIFICANCE AND IMPACT OF DESOTO,HERNANDO IDEAS ON UNDERDEVELOPMENT, PRODUCTION, AND REPRODUCTION

De Soto, a Peruvian economist and entrepreneur, is probably the most important contemporary Latin American writer on production and reproduction. His central concept of "informality' focuses on income-generating and expenditure-saving activities that contravene official regulations but do not break conventional moral codes. De Soto's ideas, which lead to deregulation, debureaucratization, and privatization, are contrasted with the International Labour Office's "informal sector' concept, which advocates increased state support for small manufacturing and repair enterprises through credit, technical assistance, and training. Though conventionally portrayed as right-wing, his views are radically different from those of many conservatives and he has played a "maverick' role in Peruvian politics. -from Author