From Manish's article in today's ET:
- "There are three possible explanations. The first one comes from Joseph Stalin who recognised that anecdotal evidence makes better storytelling than logic and said “When one person dies it is a tragedy but when millions dies it is a statistic”. The second comes from the work of economist Mancur Olson who researched interest groups. He described how a small minority in a democracy that is vocal and organised can hijack the agenda in democracy. His work on “distributional coalitions” is a tight explanation of what we see in a shortage economy like India where dividing the pie in your favour is the only option when the pie is not expanding."
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