Why Growth Matters by Jagdish Bhagwati
How Economic Growth in India Reduced Poverty and the Lessons for Other Developing Countries

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...the authors' deep compassion for the poor, gimlet-eyed view of India's checkered economic past and genuine concern for its future shine through on every page.
-WSJ online

Synopsis

In its history since Independence, India has seen widely different economic experiments: from Jawharlal Nehru’s pragmatism to the rigid state socialism of Indira Gandhi to the brisk liberalization of the 1990s. So which strategy best addresses India’s, and by extension the world’s, greatest moral challenge: lifting a great number of extremely poor people out of poverty?

Bhagwati and Panagariya argue forcefully that only one strategy will help the poor to any significant effect: economic growth, led by markets overseen and encouraged by liberal state policies. 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. If you want it to work, you need growth. With all that implies.
 

About Jagdish Bhagwati

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Jagdish Bhagwati is university professor of economics at Columbia, and a long time fellow at the Council on Foreign Relations. A native of India, Professor Bhagwati studied at Cambridge University, MIT, and Oxford before returning to India in 1961 as professor of economics at the Indian Statistical Institute. He is the author of many books, among them In Defense of Globalization. Arvind Panagariya is Professor of Indian Economics at Columbia. He is a non-resident senior fellow at the Brookings Institution. He has been the chief economist of the Asian Development Bank and a professor of economics and co-director, Center for International Economics, University of Maryland at College Park. He is the author of, among other books, India: The Emerging Giant.
 
Published April 9, 2013 by PublicAffairs. 306 pages
Genres: Business & Economics, History, Political & Social Sciences, Travel. Non-fiction
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Critic reviews for Why Growth Matters
All: 3 | Positive: 3 | Negative: 0

WSJ online

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Reviewed by Sadanand Dhume on Apr 15 2013

...the authors' deep compassion for the poor, gimlet-eyed view of India's checkered economic past and genuine concern for its future shine through on every page.

Read Full Review of Why Growth Matters: How Econo... | See more reviews from WSJ online

Financial Times

Above average
Reviewed by James Crabtree on May 19 2013

...the authors’ contention that India needs a further shake-up is surely correct, as is their suggested focus on rejigging outdated systems of land acquisition, planning and a tightly regulated labour market.

Read Full Review of Why Growth Matters: How Econo... | See more reviews from Financial Times

The Economist

Above average
on Apr 20 2013

“Why Growth Matters” is a blunt book; almost a manifesto for policymakers and analysts.

Read Full Review of Why Growth Matters: How Econo... | See more reviews from The Economist

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