Hernando de Soto of Peru reminds us of an unfortunate truth:

• "The past is many nations' present." ...

de Soto argues poor countries stayed poor not because of capitalism but because capitalism had not been developed sufficiently. de Soto understands the importance of property rights: "Without an integrated formal property system, a modern market economy is inconceivable.

What does that mean?

Use source for further evidence and explanation when answering.