What is a Banana Republic ?
According to wikipedia:
Banana republic is a term that refers to a politically unstable country dependent upon limited agriculture (e.g. bananas), and ruled by a small, self-elected, wealthy, and (but not necessarily) corrupt politico-economic clique.[1] The original concept of banana republic was a direct reference to a "servile dictatorship" that abetted (or supported for kickbacks) the exploitation of large-scale plantation agriculture, especially banana cultivation.[1] As a political science term banana republic is a descriptor first used by the American writer O. Henry in Cabbages and Kings (1904), a book of related short stories derived from his 1896–97 residence in Honduras, where he was hiding from the U.S. law for bank embezzlement in the U.S.[2]
We should all thank Ratan Tata for this insight on Indian Condition
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