 "Indian growth")
Most people think of economic growth as the norm, as a steady state, as something that happens (on average) for a long time. This intuition is based on the experience of the first world, most notably the United States (US) and the United Kingdom (UK). These countries have a remarkable experience with extremely stable, low average growth rates over long periods of time.
They got there through the power of compounding: A 1.5 per cent per capita real GDP (gross domestic product) growth for 200 years starting from 1820, which gave gains of about 20 times. Surrounding this long-term average,
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