India Uncut

Interesting book review which documents the continued corruption in India, and which corroborates the experiences my relatives in India have had setting up businesses. Yet, somehow India has managed to increase the standard of living for many of its citizens. I am still trying to figure out how it is that Africa remains mired in such poverty despite much corruption...The answer must involve other factors as well...

India Uncut: "The myth of India's liberalization
The piece below was published today as an oped in the Asian Wall Street Journal, titled 'India's Far From Free Markets' (subscription link).

Indian Prime Minister Manmohan Singh is due to visit Washington in a few weeks, and editorialists and commentators have already started writing about the emerging economic power of India. New Delhi’s decision to start liberalizing its economy in 1991 is touted as a seminal event in India’s history, the moment when it threw off the shackles of Fabian socialism and embraced free markets. It is the stuff of myth--and to a large extent, it is exactly that."...