Regulation and deregulation

TIME has shown that the ideological debate between regulation and deregulation is largely misplaced. Governments and regulators have different roles under varying market structures and circumstances. In some areas, they regulate more actively; in others, they oversee operation of market forces. Evidence and outcomes, not ideology, should determine the state’s role. In Pakistan, the formal sector is often overregulated and burdened by procedures and discretionary powers that discourage innovat...

By [email protected] (Ishrat Husain)