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My Teacher, My Mentor

My teacher, my mentor

Professor Lawrence R Klein, the Benjamin Franklin Professor of Economics and Finance at the University of Pennsylvania (herein after Penn) and recipient of the Nobel Prize in Economic Sciences, passed…

The One Percent

The one percent

Gregory Mankiw’s essay, ‘Defending the one percent’, is a forceful response to Professor Joseph Stiglitz’s thesis against concentration of fortunes within the top one percent of the Americans. Professor Mankiw…

As Change Seeps In

As change seeps in

When you travel from Karachi into the interior of Sindh (a colloquialism for rural Sindh, or pretty much anywhere outside of Karachi or Hyderabad) the landscape immediately changes as soon…

Asian Tigers And Paper Tigers

Asian tigers and paper tigers

An important new book explains why some countries have become economic tigers in East Asia while others are relative failures or paper tigers. ‘How Asia Works’ by Joe Studwell is…

A Fine Balance

A fine balance

‘Stabilisation-first’ versus growth-stabilisation balance has been under debate ever since the approval of the new IMF programme for Pakistan. Many, this writer included, are of the opinion that the IMF…

Denying Realities

Denying realities

Prime Minister Nawaz Sharif's much talked-about visit to Washington ended with precious little in terms of securing clear US commitments to the issues discussed with President Obama - drone attacks,…

In Pursuit Of Happiness

In pursuit of happiness

“There is now a rising worldwide demand that policy be more closely aligned with what really matters to people, as they themselves characterise their well-being”, said Professor Jeffrey D Sachs…

Decline Of The Nehruvian

Decline of the Nehruvian

The spectre of Pandit Jawaharlal Nehru, India’s first prime minister and one of the three founders of the Non-Alignment Movement along with Josip Broz Tito of Yugoslavia and Gamal Abdel…

The Fairness Principle

The fairness principle

Pakistan's regional problems are due to the negligence of our policy makers. This is a criticism that is across the board. The policymakers have taken opinions of powerful persons as…