New Delhi, June 2 -- Observing queues fascinates Bertie; specifically, observing what people have to or opt to queue up for is often instructive. As a kid, Bertie had queued to buy train and movie tickets, often dreading the disappointment that would lurk at the end of it, in the form of a 'House Full' or 'Closed for Lunch' board. Once that happened, a tout would accost whichever elder Bertie was with, offering the same ticket at an exorbitant premium. Those queues were symptomatic of an India with inadequate supply, opaque processes and brazen rent-seeking by connected middlemen. Thankfully, most of those queues are now behind us.

But the queues of helplessness have been replaced by queues of desire-to buy the latest iPhone the day it r...