New Delhi, Aug. 31 -- Okay, first off, I am not a fan of the big state in general. If anything, quite the opposite. But then, I am not a fan of universalizing theories in social sciences either. Theories are seductive, empowering. But they're also like a hammer: if you grip them too tightly, suddenly everything looks like a nail. That is why it intrigues me that 'experts' have criticized India's ban on real money gaming, or gambling. Surely, these arguments spring from theory-the state shouldn't tell individuals what to do; we could lose dynamic efficiency, harm the entrepreneurial spirit and destroy value. These are familiar tropes.

So here's the truth. The state will always rule on morality. Seeds of all public policies germinate on on...