India: The Emerging Giant (hardcover) by Arvind Panagariya
For anyone interested in economic development this book is a useful read. Detailing modern India, with all its tribulations and promises.The author explains the complexities of Indian society. How, with its chaotic democracy and the myriad pressure groups, development can often get stunted or delayed for years. The contrast to China is stark. The Chinese system has been able to deliver consistently faster growth for almost 30 years.But the prospects for India seem brighter than its record. The book suggests that a rough consensus amongst its politicians might enable more reforms. For the sake of hundreds of millions of Indians who still live in stark poverty, and how deserve better from their betters, let us hope so.
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