It Took India 35 Years, But Friedman Was Right

"In a memorandum dated November 5, 1955, submitted to the government of India, Milton Friedman, who predicted the end of the post-war boom and stagflation, was at his prescient best while candidly critiquing the model of planned development being formulated under the auspices of the eminent mathematician P. C. Mahalanobis.

It is worthwhile revisiting Milton Friedman’s arguments, as valid now as they were then, with most of them quietly implemented over three decades later as part of India’s new economic policy from the 1990s."

From the article "Milton Friedman and India," in the Economic Times of India, via Professor Lawrence White at Division of Labour.