Gordon's Magnum Opus and Lessons for India - I

Good books take time to read. If you're reading a classic work of literature there isn't much sense in trying to "finish" it as soon as possible. You might as well stick to the more pulpy fast paced novels and no one would judge you for it.

The same applies to non-fiction works. Some of my most favorite books in this genre have been written by scientists and mathematicians, and most of them took me years to read. I still reread them albeit (naturally) a bit faster than on the first occasion. There is always so much more that you can absorb.

When I decided to become an economist after years of harmless flirting with the subject on the sidelines, I realized I was missing a firm foundation and, even more importantly, taste in the subject. Just like a good biryani tastes even better the next day after the flavors are absorbed fully (we say, "zayka utar jaana"), no discipline can be truly understood without letting it simmer and then letting the subconscious take in a feel for what you intend to master.

I've been reading many books in this pursuit and maybe I'll come round to discussing all of them in turn. However, I decided to start with Robert Gordon's The Rise and Fall of American Growth because of several reasons:

1. The Purely Selfish: It's a mammoth book and writing down the lessons I learnt from it help me document, preserve, and more deeply appreciate the many threads in the larger theme of the book.
2. A Great Story: Like all good works in research, fiction or otherwise, the author tells a fascinating story. And all good stories deserve to be shared.
3. Potential for Debate: The book is not the final word on the account of growth in the developed world - far from it. There is much to be discussed and questioned and I intend to do that, at least with myself. For that, I need to write all the main points somewhere. Here.
4. Lessons for India: The growth story of the US is fascinating and belittling. Fascinating because the growth was rapid, world-changing and very cool. Belittling because you instantly recognize India is, in many areas, at the same place as US in 1930; at times even 1870.

So there we have it. This series of blog posts will discuss Gordon's work. I will often skim through deeper points and will not be able to maintain a critical economists' eye at all times - the effort required would be too time consuming. No, this is meant to be a fountain for future inspiration and understanding.

We begin next week though in the meantime you can read a review from 2016 written by recent Nobel laureate William D. Nordhaus. Also, my Goodreads review of the book.