Author: K V Subramanian

How do nations rise or crumble based on the choices they make with their limited resources? While at the International Monetary Fund (IMF) a few years ago, my desk was often the final stop for the countries on the brink of economic collapse. From this vantage point, I observed a recurring, tragic pattern: countries, lured by the siren song of populism, slowly shipwreck themselves on the rocks of fiscal irresponsibility. The debate on “freebies” versus “welfare” is not academic; it is the fundamental divide between sustainable prosperity and a one-way ticket to the IMF’s boardroom, begging for a bailout. The…