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Submitted by TTCUSM on
Here are my thoughts on some of the questions posed in the article: • What explains South Asia’s much slower transition of labor out of agriculture and rural areas relative to countries at similar levels of development? I don't believe that an agricultural based economy is necessarily a bad thing, but there should be ways to make agriculture more productive and profitable. • What economic factors keep firms small and informal and trap the majority of workers in low-productivity jobs? The relative informality of firms is partly due to the legacy of colonialism. Western institutions in India don't have that much credibility due to their poor implementation. For example, the court system (which is modeled after the Anglo-Saxon system) suffers from a severe backlog, and rarely delivers justice.