The Billionaire Raj is an enlightening and intriguing book in which James Crabtree makes an analogy comparing India with the age of United States gold in the late 19th century. This analogy implies that other countries have gone through similar periods, many of which include Asia over the last half century. Crabtree does not argue that India's growth is unsustainable and that with proper reforms high and stable growth can be possible in India. According to him, there is no reason why India's current golden age should not "flourish into a progressive era" in which the dangers of inequality and crony capitalism are left far behind. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original Essay To overcome its golden age, India must correct the three things that define “The Billionaire Raj.” So, this analogy is apt and useful in understanding India's problems today. The three challenges that outline this book are; inequality, crony capitalism and the super-rich, and the travails of the industrial economy. As James Crabtree discusses each challenge, he compares it to the golden age of the United States. For example, like the barons of the golden age, most Indian billionaires have used three methods to tilt the playing field to their advantage. The three methods were: securing rich natural resources such as mines and land, ensuring favorable regulations in various industries, and curbing the entry of foreign competition where possible. Furthermore, India's recent growth has created billionaires on the level of America's Vanderbilts, Rockefellers and Morgans. The Vanderbilts' legacy divided America, just like the Ambanis' legacy divided India. The Ambanis were a wealthy family of India and Mukesh Ambani became the biggest billionaire of India where his house is 160 meters high. In 2013, India's GDP per capita (adjusted for the cost of living) was about $5,200, and the United States reached the same level at the height of the Gilded Age in 1881. Half of India's 20 million residents Mumbai lived in slums while few residents lived in houses and had a better lifestyle. During the boom-and-bust cycle, many billionaire tycoons borrowed recklessly, and banks only lent aggressively into the 2000s. This caused projects that had banks with $150 billion or more in credit to fail. uncollectible. Crabtree writes how India's prime minister, Narendra Modi, despite his formidable image and solid record, has done little to help reverse the three problems. He turned out to be a less courageous and radical leader than Indian citizens had hoped. India has an infrastructure problem, and its prime minister, who loves infrastructure projects, has been unable to create the conditions to build more. Modi is a man who has great persuasive skills, yet he is unable to speak in defense of this type of social intolerance. India's previous prime ministers, Jawaharalal Nehru and Indira Gandhi, wanted to use India for good socialist purposes by curbing the power of big business. However, in the past it would have been difficult as the country did not have enough money and went out of business with other countries. In 1947, after gaining independence from Great Britain, India closed its economy by building a statist system of licenses, permits and tariffs known as the "License Raj" and only reopened to the world in 1991. Therefore, when India was in lockdown, it was difficult for her to develop as she had no contact with the outside world. This analogy is very useful for outlining a paradigm of..