Strangely enough “to go or not to go to the IMF” continues to dominate our economic debate. All manner of laughable statements have come out from economic leaders in the government and their advisers. “we don’t need to go to the IMF if we ban cheese.” “We can borrow our way out of our problems …
Pakistan’s economy has failed to achieve the target that it set for increasing investments. The investment rate currently stands at 15.4 percent of GDP which is about half the South Asian average. Factoring in the rate of depreciation shows that net investment in the economy is negligible, or, put in layperson’s terms, there is hardly …
What is the Size of the Government Footprint on Pakistan’s Economy? Read More »
A longstanding debate in economics – and among social scientists more broadly – centers on how best to deliver international aid to developing countries. Should these countries’ governments rely on top-down wisdom from donor capitals? Or should they focus more on funding bottom-up solutions dictated by recipients? When the Trump administration proposed cutting the US …
In the post-war world, there have been many attempts at all levels—multinational, bilateral and domestic—to foster growth and development in the low income world so that these countries could catch up with their richer brethren from the industrial countries. Why has growth not been faster? What can be done to make these countries achieve a …
Dear Youth of Pakistan,On behalf of my generation, I offer you a heartfelt apology over our failure to leave you with hope and an inheritance that you can build on. Our fathers gave us an unfinished project called Pakistan. They had, however, given in very quickly to the pleasures of colonial apartheid, where they could live …
An Apology to the Youth of Pakistan from the Older Generation Read More »
In 1215 A. D, King John of England signed the Magna Carta (“The Great Charter”) – a historic power-sharing arrangement with a group of rebel barons. The British legal system, and the American Constitution, enshrine its philosophy. What were the principles of Magna Carta that led to the emergence of two successive super powers? In its …
Introduction Over three decades ago, Ghari Baqir returned with a PhD from Harvard. Keen to use his newfound skills to contribute to policy and thought he started teaching at university as it allowed him time to research, write books and perhaps at some stage advise the government. He had ideas and was willing to work …
Everyone is familiar with “Economic Hit-men” and what they do to poor countries. Many Pakistani TV commentators and columnists have been referring to “Economic Hit-men” but mainly in the context of debt. However, Hit-men have evolved beyond the book and operate much more subtly now. Now they control of policy through a monopoly on thought …
The novel corona virus has exposed the weakness of our development planning. We have plush roads for our cars, but our health industry remains stagnant. We have 200 universities with few accomplished professors to lead the research effort to fight the corona. By design, the focus of the Public Sector Development Programme (PSDP) is on “Brick …
Lord Keynes in a famous statement said that “Practical men who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist. Madmen in authority, who hear voices in the air, are distilling their frenzy from some academic scribbler of a few years back”It is not surprising to …
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