Hayek Order

Sunday, July 18, 2010

India’s open political system and closed economic system

Indian democracy’s weakness is that it hasn’t been effective in enforcing accountability from the state. A once-in-five-years election, he says, for example, is too blunt an instrument to enforce accountability in the delivery of public services. How exactly the political economies of the two states evolve is as likely to determine the future of India and China as are their respective integrations with the global economy.

Chandra at 12:00 PM

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