Tuesday, March 07, 2006

Drunken regulations?

I hate whisky. The last time I drank it, I remember gobbling bottles of Sprite from my college canteen to tide the hangover.

Anyways, you cannot ignore its market in India reported in Battle for the world's largest whisky market -- India. Notice the theme of the story may have the same vein if you substitute second-hand cars for whisky.

Policy questions to ponder. How much do consumers of both countries lose because of government executive regulation succumbing to producers' lobbies? How much do producers gain? Is this an example of regulatory capture?

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