Hernando de Soto the financial crisis of the west and Entrepreneurship

Financial crisis are mostly common with the developing countries like Nigeria. and just like what the author has explained there are a lot of paper money or better “television and radio money” as such monies are refer to in Nigeria. On daily basis we hear of trillions of nairas and sometimes mention in dollars but the economy is downward year by year. One begin to wander where does all these monies goes to. The reality is that there is no integrity. The money is only heared in television or radio but reality it is not there. There is dishonesty in recordings as the author noted. I think the essence of this article is to help campus menbers as up coming enterpreneurs to be honest in paper and reality. We should not form the habit of recording achievements not in existence in the real sense of it. Because this behavior causes financial crisis both to our businesses and society at large.

All campus members please I encourge you to read this article.

Paper money is not just a problem of the west it is worst in developing countries like nigeria. Every day there are reported figures of how much Nigeria has made but in reality the population suffers. This bad recordings indeed affect entrepreneuship negatively. Banks cannot give loans because fund recorded at their disposal and made public are in papers and not the reality and this causes financial crisis. I encourage campus members to read this article and perhaps one of us will come up with an idea to sensitize and advocate agist this ills as it is affecting the growth of MSMEs