Good Economics is often not popular economics at least not in the short term. The challenge for economic leadership is to somehow bring about a confluence of the two. This is a particularly acute challenge in our connected and globalised world.
For, even the hint that the 'popular' might prevail over the 'good' can trigger destabilising financial flows. This challenge acquires added significance for India given that its economy is at the economic crossroads. One direction will lead to sustained high growth and public good; the other could exacerbate underlying social, ethnic and regional tensions. Good economics is a prerequisite for the former; popular economics will push us towards the latter.