In Bootleggers & Baptists: How Economic Forces and Moral Persuasion Interact to Shape Regulatory Politics, economists Bruce Yandle and Adam Smith explain how money and morality are often combined in politics to produce arbitrary regulations benefiting cronies, while constraining productive economic activities by the general public.
Featuring the author, Deepak Lal, Adjunct Scholar, Cato Institute, Professor of International Development Studies, University of California at Los Angeles with comments by Anne Krueger, First Deputy Managing Director, International Monetary Fund
India is an emerging economic giant. Deepak Lal will explain the role that modernity and tradition have played in that country’s recent moves to the market after decades of stagnation. Why has democracy succeeded and the caste system survived in India? Why did India switch to more liberal economic policies, and why is it likely to overtake China in the race for economic growth? Lal will provide answers to those questions and review India’s development challenges. Anne Krueger will comment on the record and prospects of Indian growth and poverty reduction.