Price controls: Remedy worse than malady

What former US president John F. Kennedy said about victory and defeat can be paraphrased in the Indian context as: statism has a thousand fathers, but liberty is an orphan. Most politicians and intellectuals root for big state in almost every walk of life, while few have any concern for freedom, especially economic freedom—that is, the rights of businesspersons to conduct their businesses without meddlesome government intervention. The Delhi government’s desire to cap profit margins for hospitals is another episode in our political class’ jihad against wealth creators.

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