Of Freedom, Markets, and the Future of India

Markets Work, Incentives Matter The two broadest generalizations one arrives at from a study of economics are that markets work and that incentives matter. People respond to incentives because that is at the core of what it means to be rational. To the extent that humans are rational, their behavior is predictably in the direction … Continue reading Of Freedom, Markets, and the Future of India

Debunking Myths about China and India

Pranab Bardhan, a professor of mine at UC Berkeley, whom we have met before here (see Crouching Tiger, Lumbering Elephant, and Pranab Bardhan on the Indian Economy, for instance) has an excellent article in the Boston Review titled "What Makes a Miracle: Some myths about the Rise of China and India." (Hat tip: Yuvaraj Galada.) … Continue reading Debunking Myths about China and India

Pranab Bardhan on the Indian Economy

One of my gurus at UC Berkeley was Pranab Bardhan, professor of economics. "He has done theoretical and field studies research on rural institutions in poor countries, on political economy of development policies, and on international trade. A part of his work is in the interdisciplinary area of economics, political science, and social anthropology. He … Continue reading Pranab Bardhan on the Indian Economy