The Billionaire Raj is an enlightening and intriguing book in which James Crabtree makes an analogy comparing India to the age of gold from the United States at the end of the 19th century. This analogy implies that other countries have gone through similar periods, notably in Asia over the last half century. Crabtree does not claim that India's growth is unsustainable and that with appropriate reforms, high and stable growth in India is possible. He believes there is no reason why India's current golden age should not "flourish into a progressive era" of its own, in which the risk of inequality and capitalism of cronyism are resolutely left aside. Say no to plagiarism. Get a tailor-made essay on 'Why violent video games should not be banned'?Get the original essayTo move beyond its golden age, India must address the three elements that define 'the Billionaire Raj'. This analogy is therefore both apt and useful in understanding India's current problems. The three challenges that describe this book are: inequality, the super-rich, crony capitalism and the difficulties of the industrial economy. When James Crabtree discusses each challenge, he compares it to America's golden age. For example, like the barons of the Gilded Age, most Indian billionaires have used three methods to tip the scales to their advantage. The three methods were: securing rich natural resources such as mines and land, ensuring favorable regulations in various industries, and restricting the entry of foreign competition as much as possible. Furthermore, India's recent growth has created billionaires comparable to America's Vanderbilts, Rockefellers and Morgans. The Vanderbilts' legacy divided America, as did the Ambanis' legacy of how they divided India. The Ambanis were a wealthy family in India and Mukesh Ambani became India's largest billionaire with his house measuring 160 meters high. In 2013, India's GDP per capita (adjusted for cost of living) was around $5,200, and the United States reached the same level at the height of its Gilded Age in 1881. Half of Mumbai's 20 million residents lived in slums while few residents lived in slums. lived in houses and had a better lifestyle. During the boom and bust cycle, many billionaire tycoons borrowed recklessly, and banks did not lend aggressively until the 2000s. This resulted in the release of projects in which banks had 150 billions of dollars or more in bad loans. Crabtree writes that Indian Prime Minister Narendra Modi, despite his formidable image and solid achievements, has done little to help reverse these three problems. He turned out to be a less courageous and radical leader than Indian citizens expected. India has an infrastructure problem and its prime minister, who loves infrastructure projects, has not been able to create the conditions to build more of them. Modi is a man with great powers of persuasion, but he is incapable of defending this type of social intolerance. Previous Indian prime ministers, Jawaharalal Nehru and Indira Gandhi, wanted to use India for socialist purposes by limiting the power of big business. However, at the time, this would have been difficult since the country did not have enough money and had closed its doors to other countries. In 1947, after gaining independence from Britain, India shut down its economy by establishing a closed, state-run system of licenses, permits and fees..