Rajshri Jayaraman of ESMT, Berlin reviews “An Economist in the Real World: The Art of Policymaking in India,” by Kaushik Basu. The Econlit abstract of this book begins: “Blending economic theory with personal experience, describes and analyzes the challenges of making economic policy in a setting where political considerations are considered primary, focusing on the economy of India as a lens through which to understand the basic principles of economics. Discusses India's growth story — stagnation, crisis, and takeoff; inflation — the emperor of economic maladies; fiscal and other macroeconomic policies for an emerging economy; globalization and the challenge of development; food and poverty; the nuts and bolts of the economy; law and economics; the social and organizational foundations of economic development; and the road ahead. Basu is Senior Vice President and Chief Economist at the World Bank and Professor of Economics and C. Marks Professor of International Studies at Cornell University.”
