Will economics unseat the great economist?

This past week, economists Jagdish Bhagwati and Arvind Panagariya wrote a syndicated article titled, “The bell tolls for India’s Congress Party.” They said that the Congress-led UPA government had been “ineffectual” and that this would hurt the party in the 2014 Lok Sabha election. Mr Bhagwati and Mr Panagariya also had a second argument. “Voter attitudes have shifted significantly in the past decade,” they wrote.

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