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I had missed the original post and now after a year I find the article sparking off some new thoughts. Absence of political institutions or a vibrant polity in the case of China has not come in the way of economic development, while the presence of same is in no way helping the cause of development in India; at least the current data is firm that industrial progress has stalled in an economy which cannot ignore it by any means. This leaves a sobering thought that it is not just building of institutions alone, but making standards of governance a way of life, that need not be put to test by the vagaries of electioneering, which defines a functioning democracy, only to be exposed to the ordeal of a self-fulfilling prophesy. India is truly at the cross-roads where if the current trajectory of development continues, the authors of 'Why Nations Fail', could be proven right.

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18/02/2014 12:29:52

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