Analyses the Third World's spiralling debt problem, and comes up with a highly controversial and novel proposal for solving it. Uses the case of Lima, Peru, to describe what the West pejoratively terms the "black' economy. In Peru, however, the black economy represents 60% of the entire Peruvian economy, while in transportation, it represents a staggering 95%. The reason for this huge underground economy is the enormous complexity of Peru's legal machinery: hundreds of new regulations are passed each week, and no private entrepreneur can possibly hope to deal with the bureaucracy. Calculates the enormous economic effects of laws regulating virtually every aspect of economic life, from housing construction and the establishment of industries, to public transport and trade. Suggests that if these regulations were removed the underclass, really a classic capitalist class at heart, would be freed and a new and greater economic development would follow. -from Publisher