Daron Acemoglu and James Robinson argue that the success or failure of nations is determined by their political and economic institutions. They present a comprehensive theory based on 15 years of research, using historical examples from the Roman Empire, the Mayan city-states, the Soviet Union, and various other regions to demonstrate how inclusive institutions foster economic growth and prosperity, while extractive institutions lead to poverty and stagnation. The authors discuss critical questions such as China's economic growth, the future of the United States, and the most effective ways to help countries move from poverty to prosperity[1][4][5].
Hernando de Soto's "The Mystery of Capital" examines the crucial role of property rights in economic development. He argues that the lack of formal property rights in many developing countries prevents individuals from using their assets as collateral for loans or investments, hindering economic growth. De Soto highlights how informal economies operate outside the formal legal system, limiting access to credit and capital. The book proposes solutions to formalize property rights, unlocking the potential of these assets and fostering economic development. This work has significantly influenced discussions on property rights, poverty, and economic development in developing nations.
Felipe Montealegre, co-founder of Thea Capital, joins us to unpack a new vision for global finance—what he calls the Internet Financial System.
Felipe makes the case that today's financial world still runs on siloed, permissioned databases—slow, expensive, and riddled with gatekeepers. But blockchains and smart contracts offer something radically different: a unified, open system where capital can move efficiently across borders and property rights are stronger than ever.
This episode is a must-listen for anyone wondering how crypto is building the financial infrastructure of the 21st century.
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TIMESTAMPS
0:00 Intro
5:29 Internet Financial Systems
12:03 Frictions in Financial Systems
20:33 Innovations in Internet Financial Systems
28:42 Server with Laws
40:02 Incompatibilities within Systems
50:17 Absence of Financial Laws
57:34 Potential of Finance in Crypto
1:09:59 Server Compatibility with Governments
1:16:18 Different Laws for Investing in Crypto
1:26:26 Building Protocols
1:29:52 Closing & Disclaimers
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RESOURCES
Felipe Montealegre
https://x.com/TheiaResearch
Internet Finance
https://x.com/TheiaResearch/status/1876618725547233417
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