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Why ‘profit’ is not a bad word

Veetil, Vijayalakshmi and Bose present a case on how competition fostered through for-profit ventures can bolster efficiency in the Indian Education Sector. This article sourced from Center for Civil Society’s, Spontaneous Order was originally published in Hindustan Times on 26th March 2014. 

There are few areas where the difference between what Indians want for themselves and what the government of India wants for them is more alarming than in higher education. Six to eight hundred thousand Indians leave for foreign universities every year. Yet foreign universities are not allowed to set shop in India. In September 2013 the government announced that it may soon open doors to foreign varsities. However, foreign universities will not be allowed to repatriate profits. Behind this policy lies a deeply flawed view of the consequences of profitmotive. Continue reading

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