India, April 17 -- From the populist surge in the Global North to the debt-laden realities of the post-pandemic Global South, governments are facing a stark reckoning. The key question is: How should one optimally think on the public and private provisioning of goods and services?

In the US, the echoes of a federal structure challenged by the department of government efficiency (DOGE) and beyond, coupled with the looming shadow of public debt, are forcing a fundamental rethink of the State's role and public economics. Meanwhile, read against the recent electoral outcomes in Delhi, public provisioning of health and education seems to be taking a backseat in India.

Two studies (of which I am a co-author) of Indian pharmaceutical markets m...