After World War II only a few developing countries were able to catch up to real GDP per capita levels prevailing in developed countries. These successful countries in almost all cases came from Asia and did not follow the free market doctrine in the tradition of the Washington Consensus. There...

The article is essentially a book-review of Professor Vijay Joshi's recent work, "India's Long Road: The Search for Prosperity". In this critical essay, I take a slightly revisionist approach when it comes to a "typical" book review. For example, the length of this article goes well-beyond the...