India has been held back from achieving widespread economic prosperity because it attempts to legislate and regulate more than its resources and population can handle. The mismatch between ambition and ability stems from premature demands by India’s elites, who press for domestic imitations of what they deem to be the best policies and practices of developed countries.

Shruti Rajagopalan is assistant professor of economics in the Department of Economics at Purchase College, State University of New York, and a fellow at the Classical Liberal Institute, New York University School of Law.
Alexander T. Tabarrok is Senior Fellow at the Independent Institute, Assistant Editor of The Independent Review, and Associate Professor of Economics at George Mason University.
AsiaInternational Economics and Development
Other Independent Review articles by Alexander T. Tabarrok
Fall 2013 The Global Organ Shortage: Economic Causes, Human Consequences, Policy Responses
Spring 2007 The Rise, Fall, and Rise Again of Privateers
Summer 2000 Assessing the FDA via the Anomaly of Off-Label Drug Prescribing
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