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Growing the Pie in India

Originally published in Library of Law and Liberty

Redistribution, as distinct from growth, cannot be the answer to removing poverty. In countries such as India, China, and Brazil, the large numbers of poor mean that redistribution will do little and that, too, will not be sustainable. … The pie has to grow; growth is a necessity.” So Jagdish Bhagwati and Arvind Panagariya begin their analysis on ‘Why Growth Matters’ and the lessons India and other developing countries can learn from Indian successes, failures, and missed opportunities for economic growth.

Redistribution, as distinct from growth, cannot be the answer to removing poverty. In countries such as India, China, and Brazil, the large numbers of poor mean that redistribution will do little and that, too, will not be sustainable. … The pie has to grow; growth is a necessity.” So Jagdish Bhagwati and Arvind Panagariya begin their analysis on ‘Why Growth Matters’ and the lessons India and other developing countries can learn from Indian successes, failures, and missed opportunities for economic growth.

 

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