Structural economic weakness, not illiberalism, caused the crisis. And that weakness doesn’t apply to India
The economic crisis in Sri Lanka has engendered a mélange of complex, seemingly sophisticated analyses – around populism, illiberalism, majoritarianism, social harmony (or the lack of it) and how they militate against sound policymaking. With the inevitable undertone that India should be “careful” about falling into a similar trap.
But that just doesn’t hold. The key factor in the Lanka crisis is structural weakness in the economy, which made a crisis like this a matter of “when” rather than “if”. Anti-liberal political posturing had nearly no role. If anything, Lanka adopting some of the most treasured liberal causes may have exacerbated the crisis.
But that just doesn’t hold. The key factor in the Lanka crisis is structural weakness in the economy, which made a crisis like this a matter of “when” rather than “if”. Anti-liberal political posturing had nearly no role. If anything, Lanka adopting some of the most treasured liberal causes may have exacerbated the crisis.