Why Nations Fail

The question why some nations are rich while others are poor is not new. It has been the focus of economists for centuries. The great Scottish economist and moral philosopher Adam Smith dealt with that in his famous book, An Inquiry into the Nature and Causes of the Wealth of Nations, published in 1776 (that miraculous year[1].) That question can be particularized for India as “Why is India poor when it could have been rich?” It can be restated as “Why has India failed?” if by failing one means not being able to emerge out of poverty. Unfortunately, that question is avoided studiously by not just the general educated population but also by most economists who study India. Why is that?
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