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Bonus Quotation of the Day…

… is from page xv of Jagdish Bhagwati’s and Arvind Panagariya’s 2013 book, Why Growth Matters (footnote deleted):

The experience of China, India, and East Asia – whose population amounts to not quite half of the global total population – demonstrates how growth is stimulated and sustained with the policy framework that exploits the opportunities provided by integration into the world economy, and also relies on a sophisticated use of market incentives in guiding production and investment. Conversely, they also demonstrate that a shift away from such a policy framework undermines growth.


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