The Private Provision of Missing Public Goods
This chapter explores the long-standing puzzle of the optimal role and impact of private business in public life based on evidence from a healthcare entrepreneur in India. To realize its goal of delivering affordable, high-quality care to the indigent population in India, Narayana Health (NH) had to address a number of voids created by the absence of supporting market institutions. This was done with entrepreneurial aplomb, sometimes even catalysing governmental action, by becoming a trusted intermediary to providers of all sorts of factor inputs who would otherwise not make their services available. This partial private provision of public infrastructure by NH illustrates how social investments by resource-constrained entrepreneurs in emerging markets can yield both private and public benefits.