Political capitalism
THE last couple of years have witnessed a series of changes to decision-making structures of Pakistan’s economy. These include the creation of the SIFC, the centralisation of economic governance, and greater…
Human capital development
ACCORDING to economist Julian Simon, “the ultimate resource is people — especially skilled, spirited, and hopeful young people endowed with liberty — who will exert their wills and imaginations for…
A deepening productivity crisis
Pakistan stands at a critical crossroads as it grapples with a deepening productivity crisis that threatens its economic future. In a comprehensive report, titled ‘Investing in productivity growth’, released by…
Chasing capital
There has been an incessant focus on attracting foreign investment in the country, through half-baked pitches to a few friendly countries. Despite such a focus, and activity at the highest…
Boosting productivity
Productivity, embodied by the contributions of entrepreneurs, managers, and workers, is a fundamental indicator of an economy's health. The United Nations' Sustainable Development Goal 8 promotes enduring, inclusive, and eco-friendly…
Time to invest in human capital
The contemporary concept of a “nation state” revolves around a nation, community and/or society that is politically organized under a sovereign government having exclusive right of taxing its citizens within…
Productivity paradox
One of the basic problems with Pakistan’s economy is that it produces less of the end products that can be sold in the world market and consumes more of what…
Rebuilding human capital [Part – III]
Sixth, revamp the higher education system and research institutes where the criteria for allocating public funds would be based on promoting emerging technologies and generation and application of knowledge to…
Rebuilding human capital [Part – I]
When countries face short-term financial crises it is natural that more deep-rooted and important issues are neglected, perpetuating the cycles of economic instability from time to time. It may appear…
Pakistan’s human capital conundrum
In 1986, the Journal of Political Economy (JPE) published a paper (‘Increasing returns and long run growth’) by a relatively unknown economist. The same person, Paul Romer, got another one…
