Samuelson versus Friedman
Successive governments in Pakistan, since independence, have been promising to turn the country into a social welfare state. But the socio-economic policies that each of these governments framed and implemented,…
Marx at 200: Germany torn over revolutionary’s legacy
As Germany prepares to mark Karl Marx's 200th birth anniversary, the revolutionary philosopher's legacy remains divisive more than a quarter century after the fall of the Berlin Wall. With scars…
Trade deficit – an equitable analysis
Trade deficit is good if it generates the required value addition within an economy, and results in a good exploitation of trade through productive investments that enhance the industrial sector's…
Honouring Meekal Ahmed
Meekal Aziz Ahmed, an excellent economist and a fine human being passed away in late January this year at the age of 71. With his demise, Pakistan has lost a…
The face of reform
The year is 2018 and the month is October. Lahore is getting chillier, bracing up for yet another Smog season. I’m getting cold feet entering the giant gates of the…
Politics and economy
Perhaps a better caption could have been politicians and economics but a fair sense of judgement prevailed. The subject is one of an incredible juxtaposition. The words apparently contrast each…
Sanctity of contracts
ECONOMISTS reviewing Pakistan’s economic conditions invariably advise that foreign investment will not come to the country nor economic activity accelerate if the sanctity of the contract is not upheld. Individuals…
Half of a man
DECADES ago, I was watching a documentary in which a foreign journalist was talking with a young man in Afghanistan. The interviewee was probably an Afghan Talib and the question…
Capitalism’s enduring dominance
Having been on a roll for more than seven decades, the liberal world order seems to have entered its sunset period. The obituary of the liberal order is being written…
Beyond colonial legacies—II
An additional critical factor contributing to the governance and economic challenges in Pakistan is the dominance of certain influential groups within the public discourse. This includes so-called economists, researchers, authors,…
