“In other countries family conglomerates have been merely a phase of capitalism,” you point out in your special report on business in India (“Adventures in Capitalism,” October 22, 2011). “Will that happen in India?” you ask rhetorically. Of course it will. Family trusts, such as Tata group, which is into its fifth generation already, will eventually admit talented non-family managers into top management positions. If anything, the predominance of family business is only an index of the level of development of Indian capitalism. It shows that much still depends on trust rather than legal institutions that buttress advanced capitalism. The same holds for China, it goes without saying. It is interesting to note that family businesses going back several generations are still relatively common in Italy, of all places. Again, trust matters where legal institutions are wanting. Let us hope that India will not follow Italy down the family road.