Breaking the Mold: India’s Untraveled Path to Prosperity

The whole world has a stake in India’s future, and that future hinges on whether India can develop its economy and deliver for its population-now the world’s largest-while staying democratic. The challenge is that while India’s economy has overtaken the United Kingdom’s to become the fifth largest in the world, its economy is growing too slowly to provide jobs for millions of its ambitious youth. Blocking India’s current path are intense global competition in low-skilled manufacturing, increasing protectionism and automation, and the country’s majoritarian streak in politics.
Chicago Booth’s Raghuram Rajan, in his latest book, “Breaking the Mold,” co-authored by Rohit Lamda, shows how India can break free of the stumbling blocks of the past and embrace the enormous possibilities of the future, while remaining true to its democratic ideals.

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