Our infatuation with controlling the prices of essential commodities is ancient. Since antiquity, our kings and their counsels have tried to keep a check on surging prices. Kautilya Chanakya, the famous philosopher and teacher of ancient India, emphasized effective price control measures in his book Arthashastra. In his time, prices were ascertained by the Superintendent of Commerce, an office that handed out fines and punishments to those found guilty of making undue profit. So, if you were to roam the streets of Pataliputra, the seat of the Maurya Dynasty, rest assured that the prices would be well within your reach. The great ruler of the Delhi Sultanate, Alauddin Khilji, whose legac
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