August 1, 2012

POWERLESS: Huge Blackout Fuels Doubts About India’s Economic Ambitions. “It also destroyed any lingering hope that the nation’s entrepreneurial spirit and vibrant private sector could somehow deliver a significantly brighter future without a dramatic improvement in the way the country is governed. . . . Along with a lack of investment in infrastructure, the crisis also had roots in many of India’s familiar failings: the populist tone of much of its politics, rampant corruption and poor management in its government and public sector, weak law enforcement, and a maze of regulations that restrict many industries.”

Bad government is expensive. But bad governors don’t care, because they’re getting theirs.

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