In 1991, India adopted free market reform policies propelling the nation into a period of rapid economic growth, rising GDP (gross domestic product), and in turn classifying the nation among the largest economic powers. Yet, despite these apparent successes India still struggles with deeply rooted inequality and extreme levels of poverty that threaten the notion and triumphs of free trade—a policy in which countries can trade with other nations without the installment of government quotas or restrictions. In The Age of Milton Freidman, Andrei Shleifer makes the case for free trade, stating that it has significantly helped countries decrease poverty and improve quality of life. The argument presented in An Uncertain Glory by Jean Drèze and Amaryta
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Attributing the rising global prosperity and sense of universal citizenship to increased connections and interdependence between countries, Shleifer joins his key points—that the “remarkable progress of mankind” was directly correlated to the adoption of free trade by economically transitioning countries as well as more established countries world-wide (Shleifer 123). Shleifer focuses on the success stories in which solely free trade decreased the levels of poverty and yielded economic stability, capital, and greater qualities of life. By providing a multitude of figures and graphs depicting how different regions changed during the time period coined the age of Milton Freidman, Shleifer analyzes how countries were affected and hence comes to his conclusion that the era was one of remarkable growth that undeniably correlated to free trade. However, in comparing the two books and different arguments in the piece Shleifer acknowledges that in order for the free market to function efficiently there are the expectations of “stable macroeconomic environment” and “assured property rights” that must be in place (126). In regards to the government intervention suggested by Drèze and Sen, Shleifer states that in many cases government interference can work against the delicate balance by being overly demanding in regards to taxation and regulation or “hostile to business” …show more content…
An Uncertain Glory works to expose the problems within the free trade system and push to the forefront the failures and unsuccessful policies buried under India’s complex democracy. One way the authors do this is by conveying that the abilities required for an individual to be a fruitful participant in the free market are lacking and underdeveloped among India’s lower classes, which inhibits the success of the free market reform. The basic necessities— education, public services and infrastructure, adequate and consistent food and electricity—required in order to be proficient in a skilled workforce are simply unavailable for a large percent of the population. The Indian educational structure exemplifies this notion in perfect clarity. Drèze and Sen expose the flawed system of education by pointing out that the gap in the quality of teaching and infrastructure is a direct result of the socioeconomic standings of the students (128). There is a small percent of privileged students who are provided a great education and will certainly go on to be successful working individuals who will represent India as a strong economic power (128). But, the current system fails the majority of students who are living in impoverished regions and are not provided the same
Attributing the rising global prosperity and sense of universal citizenship to increased connections and interdependence between countries, Shleifer joins his key points—that the “remarkable progress of mankind” was directly correlated to the adoption of free trade by economically transitioning countries as well as more established countries world-wide (Shleifer 123). Shleifer focuses on the success stories in which solely free trade decreased the levels of poverty and yielded economic stability, capital, and greater qualities of life. By providing a multitude of figures and graphs depicting how different regions changed during the time period coined the age of Milton Freidman, Shleifer analyzes how countries were affected and hence comes to his conclusion that the era was one of remarkable growth that undeniably correlated to free trade. However, in comparing the two books and different arguments in the piece Shleifer acknowledges that in order for the free market to function efficiently there are the expectations of “stable macroeconomic environment” and “assured property rights” that must be in place (126). In regards to the government intervention suggested by Drèze and Sen, Shleifer states that in many cases government interference can work against the delicate balance by being overly demanding in regards to taxation and regulation or “hostile to business” …show more content…
An Uncertain Glory works to expose the problems within the free trade system and push to the forefront the failures and unsuccessful policies buried under India’s complex democracy. One way the authors do this is by conveying that the abilities required for an individual to be a fruitful participant in the free market are lacking and underdeveloped among India’s lower classes, which inhibits the success of the free market reform. The basic necessities— education, public services and infrastructure, adequate and consistent food and electricity—required in order to be proficient in a skilled workforce are simply unavailable for a large percent of the population. The Indian educational structure exemplifies this notion in perfect clarity. Drèze and Sen expose the flawed system of education by pointing out that the gap in the quality of teaching and infrastructure is a direct result of the socioeconomic standings of the students (128). There is a small percent of privileged students who are provided a great education and will certainly go on to be successful working individuals who will represent India as a strong economic power (128). But, the current system fails the majority of students who are living in impoverished regions and are not provided the same