Book : The Billionaire Raj A Journey Through Indias New...

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A colorful and revealing portrait of the rise of India’s new billionaire class in a radically unequal society India is the world’s largest democracy, with more than one billion people and an economy expanding faster than China’s. But the rewards of this growth have been far from evenly shared, and the country’s top 1% now own nearly 60% of its wealth. In megacities like Mumbai, where half the population live in slums, the extraordinary riches of India’s new dynasties echo the Vanderbilts and Rockefellers of Americas Gilded Age, funneling profits from huge conglomerates into lifestyles of conspicuous consumption. James Crabtree’s The Billionaire Raj takes readers on a personal journey to meet these reclusive billionaires, fugitive tycoons, and shadowy political power brokers. From the sky terrace of the world’s most expensive home to impoverished villages and mass political rallies, Crabtree dramatizes the battle between crony capitalists and economic reformers, revealing a tense struggle between equality and privilege playing out against a combustible backdrop of aspiration, class, and caste. The Billionaire Raj is a vivid account of a divided society on the cusp of transformation-and a struggle that will shape not just India’s future, but the world’s. Review An Amazon Best Book of July 2018: India is the world’s fastest growing democracy, with an economy that is rapidly expanding, making a handful of Indians fantastically wealthy. At the same time, millions of Indians live in poverty, sometimes subsisting just feet from the fancy, almost unimaginable urban homes of the super-rich. James Crabtree uses the home of the reclusive billionaire Mukesh Ambani (that is his home on the cover) as a symbol of an Indian system that Crabtree likens-quite convincingly-to our own Gilded Age. Like in other places around the world, fair government appears to be no match against the vast sums of private capital that the “Bollygarchs” employ to cement their interests. Crabtree uses interviews and riveting reporting to give us a fascinating look into the sudden, sometimes shocking, and seemingly insurmountable rise of the Indian super-elite, as they surf the wave of globalism. -Chris Schluep, Amazon Book Review Review Short-listed for the Financial Times & McKinsey Business Book of the Year 2018“A lively and valuable blend of the empirical and the anecdotal. . . .The best parts of Mr. Crabtree’s book, however, aren’t his observations on the civic state of India (although these are certainly valuable and wise). They are his reportage, in which he relates his encounters with several of the men who are emblematic of the billionaire raj.” -Tunku Varadarajan, Wall Street Journal“Thrilling. . . . The Billionaire Raj does the great service of . . . showing how India’s political system and its firms are symbiotically connected, in an entertaining-and sometimes disturbing-fashion.” -The Economist“A nuanced portrait. . . . chock-full of profoundly revealing vignettes from various corners of India’s endlessly diverse society and economy.” -Jonathan A. Knee, The New York Times“An excellent survey of India’s economic and political transformation. . . .Crabtree’s Indian story is a cautionary tale of globalization’s excesses and the consequences for one of the world’s most unequal societies.” -The Washington Post“Crabtree’s vivid portrayal of the corruption of politics is very informative, and thought-provoking. . . .The most comprehensive and eminently readable tour of economic India.” -Meghnad Desai, Financial Times“A stylish, sweeping survey of modern day India. . . . Crabtree is diligent in his research and brutally fair to his interviewees.” -Ann Pettifor, The Times Literary Supplement“An enlightening and engaging story of wealth and poverty in India, but also a sad indictment of the power of inequity in subduing and overwhelming its areas of success. -Amartya Sen, winner of the Nobel Prize in Ec
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