I was among those warning that a Modi government could not transform the economy quickly. It faced deep structural constraints, both economic and political. However, both are lifting faster than seemed possible till now. Last week I wrote about how […]

When expectations are strong enough, they become self-fulfilling. If enough people think land and stock prices are going to rise and all of them start buying, the price of land and stocks will indeed shoot up. If all businessmen fear

I have long been allergic to mainline political parties. On election day, I typically go to the polling booth, look at the photos of candidates, and vote for the bestlooking independent. I did not vote this time because I was

A key reason why India’s economic growth has halved from 9% to 4.5% per year is that, in search of inclusive growth, the courts and legislatures have increasingly made legitimate business difficult. It now takes 12 years to open a