Hernando de Soto is a Peruvian economist renowned for his insights into the informal economy and the role of property rights in economic growth. He leads the Institute for Liberty and Democracy in Lima, Peru. Hernando and the Institute for Liberty and Democracy initiated around four hundred reforms that transformed Peru’s economic landscape. Notably, the Institute reformed the property system, providing titles to over 1.2 million families and enabling about 380,000 businesses to transition from the black market to the formal economy by reducing bureaucratic obstacles. The Cato Institute and The Economist have noted that Hernando’s policies weakened the Shining Path guerrilla movement by granting titles to small coca farmers, thus cutting off the group's resources and recruitment. In response, the Shining Path attempted to assassinate Hernando, targeting the Institute with a bombing and firing on his car. Hernando has also developed similar economic programmes in El Salvador, Haiti, Tanzania, and Egypt, earning recognition from the World Bank and the South African government. His career spans roles as an economist, corporate executive, and consultant across Europe. He has authored two influential books: “The Other Path: The Economic Answer to Terrorism” and “The Mystery of Capital: Why Capitalism Triumphs in the West and Fails Everywhere Else.”