GMU Econ alum – and my Mercatus Center colleague – Shruti Rajagopalan writes of how the covid-19 crisis is exposing more clearly the damage done to the Indian people by that country’s restrictions on free markets. A slice:
While the removal of these import duties is great news, we have miles of regulatory roadblocks to remove before we sleep. Companies need approval from the National Institute of Virology regarding the efficacy of the testing kits and an import licence from the Drugs Controller General of India. Many companies have the approval or the licence, but not both. Once again, the unseen effect of cumbersome regulation has become visible, as government hospitals cannot procure tests for covid-19. Now that it has been seen that these regulations can threaten lives, the government has to clear many such thickets of regulation.
I just ordered a copy of my Mercatus Center colleague Adam Thierer’s new book, Evasive Entrepreneurs.