"I do not see how one can look at figures like these without seeing them representing possibilities. Is there some action a government of India could take that would lead the Indian economy to grow like Indonesia's or Egypt's? If so, what exactly? If not, what is it about the "nature of India" that makes it so? The consequences for human welfare involved in questions like these are simply staggering: once one starts to think about them, it is hard to think about anything else."
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Academics from the United StatesNobel laureates from the United StatesEconomists from the United StatesPeople from Washington (state)Nobel laureates in Economics
Original Language: English
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Robert E. Lucas, "On the Mechanics of Economic Development." Journal of Monetary Economics. 22 July, 1988, pp. 5: On economic growth
https://en.wikiquote.org/wiki/Robert_Lucas_Jr.
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Robert Lucas Jr.
Robert Emerson Lucas, Jr. (September 15, 1937 – May 15, 2023) was an American economist at the , who received the Nobel Prize in Economics in 1995. He is widely regarded as the central figure in the development of the new classical approach to macroeconomics.
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