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Another day, another dry and witty Economist magazine article advising another large country on what its central bankers need to do. There is never any doubt within The Economist brain-trust that central banking is a necessary phenomenon, or that it merely needs to be done a little “better” to be effective. In this case, we are led to believe that India’s ruling class simply needs to lurch into the 21st century and start taking central banking a little bit more seriously. Here’s how the