The government of Alejandro Toledo, elected in 2001, introduced an emergency economic program, whose centerpiece was the creation of the Fondo MiVivienda, a state subsidy for low-income mortgages from commercial banks and finance companies, designed to create jobs in construction and simultaneously support the country’s ailing commercial banks and construction industry. (See International Finance Corporation 2005, and Fondo MiViviendo n.d.) The World Bank (2004, 10) was then able to report, without explanation, a sudden increase in mortgage lending to the poor as though it were a consequence of its property titling program.

Philip Mirowski & Dieter Plehwe (eds.), The Road from Mont Pèlerin, loc. 1992