In Why Growth Matters , the duo provide perhaps the most full-throated defence to date of India's economic liberalisation, which began in and is widely understood to have led to a period of fast growth over the past decade. Serious reformers throughout the developing world cannot ignore this book or Bhagwati's work throughout the years. If it's a must read for scholars and practitioners of economic development, it should be absolutely mandatory for the Indian political leaders. George A.
It is not just the well-to-do who have benefited, but, especially, the poor. The lessons from the spirit of are not just relevant for India today; they are also of prime importance for the billions of citizens of low income countries around the globe. Their radical message has huge consequences for economists, development NGOs and anti-poverty campaigners worldwide. There are vital lessons here not only for Southeast Asia, but for Africa, Eastern Europe, and anyone who cares that the effort to eradicate poverty is more than just good intentions.
This book, though, is written as a response to Amartya Sen and Jean Dreze and reads a little oddly for that reason — there is a hidden opponent who is sometimes not mentioned explicitly. Personally, though, I find the comparison with other countries completely unconvincing. What was particularly interesting was the fact that a the cumulative nature of laws makes for a completely unwieldy and potentially contradictory set of rules b democracy forces populist rather than good economic solutions.
Economically obvious solutions become impossible and c some of the destructive laws are really old — from British times even. In spite of growing up in India I had no idea that so much had carried over from pre-independance.
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