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Prior to reforms sparked by India's 1991 balance of payments crisis, establishment economists coined the belittling term “Hindu rate of growth” – implicitly attributing the country's lackluster economic performance to its cultural and religious traditions. Of course, India’s post-1991 economic record makes clear that the issue was never a lack of talent, skill, or entrepreneurial dynamism.  For more on this topic, check out the India before 1991: tiger caged dispatch.
Note: This is part one of a two-part series on the roots and impact of India’s 1991 crisis. Part two is here.
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