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outside of the system. Mr. Soto claims that more than a decade of effort and hundreds of different bureaucratic steps and vast sums of money in proportion to the earnings of the actors are required to become legal. Even after overcoming these hurdles, there are many other problems that an actor faces to retain legitimacy after obtaining it. 'The new urban poor have created entire industries and neighborhoods that have to operate on clandestine connections to electricity and water. There are even dentists who fill cavities without a license.' Here he claims that the gray market in these countries has grown to huge proportions, providing food, transportation, and almost everything. The problem is that this gray market is not accounted in most of the econometric analysis and poverty statistics; therefore, most potential assets in these undeveloped countries have not been realized or identified, which leads to little accessible capital, and an exchange economy which is constrained and sluggish. He gives percentages of the urban and rural capital which is considered as dead capital, he claims that collective worth of that dead capital outweighs the total wealth of the rich, government assets, and international aid combined in those countries.

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Mr. Soto's emphases on legal property system is valid but not complete, factors such as cultural differences, government's industrial policy, sense of civic responsibility in local political governance, and widespread public support for political as well as economic freedom are also equally important in determining the wealth of nations. Argentina's currency became stable but its budgetary process still remain uncontrollable. Mr. Soto notes that many Latin American countries have tried the concept of capitalism on different occasions during the last two centuries and have failed all the times. He doesn't put emphasis on other factors such as, numerous market weaknesses and lack of budgetary and monetary discipline which also play major roles in economic stagnation.

Mr. Soto claims that a well-defined legal property system is most important for capital to become live, but in reality, even if the property rights are documented, enforced and incorporated, the amount of live capital generated depends on the effectiveness and profitability of the rights that the creditor possess. This effectiveness may vary from one country to another. Based on the Economic freedom index of the world, the legal system of undeveloped nations is underdeveloped, and its effectiveness to promote commerce is also inadequate. Similarly, a strong financial system is also required for capital to become live. Financial systems of underdeveloped countries are not mature enough for the actors to get full benefit of their legal assets. For example, bank credit may not be accessible or available for small business expansions even if the actor has a legal asset to keep as collateral. Government policies such as heavy taxes, regulation and corruption in the administrative departments may make legitimate business unprofitable. Physical infrastructure of the country also plays important roles in resurrecting the capital. In other words, an optimal balance of different factors is required for any economy to develop and run at its full potential. All factors such as physical safety for persons and property, enforcement of contracts, education (human capital), modern bankruptcy and commercial laws, el