Can India still be a breakout nation?  Dec 10, 2012, 06.04AM IST
(Some simple rules of the…)  By Ruchir Sharma  Some simple rules
of the road, rather than some sweeping theory about institutions
or geography, will determine India's economic success over the
visible time horizon.  Why do nations rise and fall? That
question draws lots of attention from academics, many of whom
offer answers pointing to a single key to economic success. They
focus on investment, geography, demographics, culture or,
fashionably of late, on institutions.  These one-dimensional
theories are often based on historical records going back
decades and look forward for equally-long periods. As a result,
they tend to miss what is going to happen over the next few
years. Global growth is slowing, and so is growth in emerging
nations, with wider gaps between winners and losers. Spotting
winners in this new era will require looking at many factors,
and travelling to see what is happening on the ground, not
relying on theory or numbers alone.