Import the third world ...

There's a common saying that comes up any time mayhem is committed by illegal immigrants: Import the third world, get the third world.The examples that trigger this saying tend to be crimes that happen everywhere -- murder, robbery, rape, assault -- though the frequencies differ from country to country. What is common to the third world though, is something more subtle, known as 'informality': the phenomeon of living without rule of law (or property rights). In any country where you see big shack cities ringing a country's capital on its outskirts, you've got sizable evidence of what Peruvian economists Hernando...