Edmund Burke remarked in 1790 that “… which in the first instance is prejudicial may be excellent in its remoter operation… The reverse also happens: and very plausible schemes, with very pleasing commencements, have often shameful and lamentable conclusions.” The course of the French Revolution soon proved him right. Two Paths to Prosperity reaffirms Burke’s…
A recent report comparing stock market returns from 1995 to 2025 across 14 major countries found that India boasted the highest annualized returns … while also displaying the greatest volatility. Anyone hoping to profit from that tremendous but erratic growth would do well to peruse Running Behind Lakshmi. Adil Rustomjee’s indulgent editors allowed him to…
Our beliefs about the past pass through filters both ideological and physical. Cotton, leather and papyrus all disintegrate with time, but fired clay does not. Hence museums filled with jugs and bowls instead of scrolls and clothing. Still, such a vessel inspired one of England’s most celebrated poems, John Keat’s “Ode on a Grecian Urn”….
The term “Industrial Revolution” entered modern parlance in 1799, courtesy of the French diplomat Louis-Guillaume Otto. What began with incremental improvements in steam power and textiles would sweep the world, freeing societies from the Malthusian trap while upending the distribution of political power. But for all that epochal significance, scholars have never arrived at a…
In his book Tianjin Cosmopolis, Pierre Singaravélou remarks that “The history of modernity is a history of possible futures as much as a study of the processes of modernization.” Thanks to a new translation from the original French, English readers now have a chance to consider one possible future of China that never came to…
For over two decades, Chinese leaders have sought to rebalance their economy away from dependence on investment and exports and towards growth based on domestic consumption. In that context, few developments could have been more propitious than the explosive growth in internet commerce. While the benefits for consumers are obvious, digital marketplaces also allowed small…
Sir John Seeley once claimed that the British had “… conquered and peopled half the world in a fit of absence of mind.” This would have bemused the many adventurers, mercenaries, and administrators who dedicated their lives to displacing indigenous power across India. More pragmatic than perfidious, Albion accommodated hundreds of princely states ruled by…
Despite a reputation for abstruse thought, the French intellectual Michel Foucault once explained his research in a straightforward manner: “I set out from a problem expressed in the terms current today and I try to work out its genealogy. Genealogy means that I begin my analysis from a question posed in the present.” Keyu Jin…
After years of diplomatic pressure from the United States, China placed all fentanyl-related chemicals under an enhanced regulatory regime in 2019… only to see India emerge as a new source for the drug’s precursors the next year. Since then overdose deaths have continued to surge, prompting one US Senator to declare that “The flow of…
“Thou art the ruler of the minds of all people, dispenser of India’s destiny. Thy name rouses the hearts of the Punjab, Sindh, Gujarat and Maratha, of the Dravida, Orissa and Bengal.” Thus begins Rabindranath Tagore’s Jana Gana Mana. In 1939, Jawaharlal Nehru traveled to Calcutta and received Tagore’s blessing to make it India’s national…
In 1980, the Nobel Laureate Milton Friedman noted “It is somewhat ironic that Hong Kong, a Crown colony of Great Britain, should be the modern exemplar of free markets and limited government. The British officials who govern it have enabled Hong Kong to flourish by following policies radically at variance with the welfare state policies…
In May 2022, Antony Blinken, US Secretary of State, outlined the Biden administration’s approach to the People’s Republic of China. Blinken closed by speaking directly to the Chinese people, vowing “We’ll compete with confidence; we’ll cooperate wherever we can; we’ll contest where we must.” Between Blinken’s maxim and the actual conduct of foreign policy lie…
China’s Pearl River Delta recently surpassed Tokyo as the world’s largest urban area. Amid that vast conurbation of over 60 million people stands the city of Zhongshan. The birthplace of Sun Yat-sen, Zhonghsan’s factories supply China’s middle class with consumer goods like lighting, furniture, and appliances. Looking east across the Indian Ocean, one finds Antalaha,…
In 2021, China launched the world’s largest carbon market in furtherance of its “dual carbon” goals of peak emissions in 2030 and carbon neutrality by 2060. That same year, China set a new record for coal production, extracting over 4 billion tons. How any country could reconcile such output with rising environmental standards remains to…
Much like countries, regions are man-made, prone to arbitrary borders reflecting the priorities of long dead statesmen. In the 19th century, French leaders discovered “Latin America” as they sought to expand their influence in the Western hemisphere. The American strategist Alfred Thayer Mahan popularized the “Middle East” in a book that guided generations of naval…