Development 2.0--by Nadeem Ul Haque

Here everybody is an economist! Everyone carries their shopping list of what needs to be done. I often get long lectures from opinionated people who obviously use the same ideas at dinner parties and official meetings (why are they called to official meetings and allowed to hold forth?).In a loud voice and with full conviction they argue “ it is not rocket science! ” All we need is “ Get the basics right! ” As if these are arguments. But no matter the audience (especially arrogant officialdom) buys their line. My question “ what are the basics? ” is often drowned out! We all know what the basics are without actually talking about it. This is how economics is done in Pakistan. After much effort, I find out what the basics are in the minds of these philosophers. I learn that their basis are mere wishes for in increase in revenu es, exports and growth. Makes it easy! Does it not! We wish all the good things and call it economics. For sixty years Plan after Plan as w...

This is a term that my friend Meekal used with me today. All we need is get the basics right! Others around the table also yelled, “it is not rocket science!” All we need is “Get the basics right!” My question “what are the basics?” was drowned out! We all know what the basics are without actually talking about it. This is how economics is done in Pakistan. With persistence I found out what the basics were. · Get inflation down · Increase revenues · Increase exports · Increase growth Makes it easy! Does it not! We wish all the good things and call it economics. For sixty years Plan after Plan as wished for these good things, increase production, increase growth, increase exports. It is just so sad that the economy will not listen to these economists and deliver all good things like production, growth and exports. And not to forget that all this must happen with low inflation. Of course we must keep asking for more revenues and every discussion must not well-worn examples of the rich no...

“Come in! Gentlemen, come in!” said Mr. Dawit as he looked distractedly from his rather engrossed conversation with a very official looking gentlemen. “Please have a seat. Make yourself comfortable. Just give me a minute and I will be with you. Unfortunately this message from the president is very important and has to be dealt with immediately.” With that, he went back to his conversation with the very official looking gentleman seated next to him. The tone of the conversation was much too low for the three rather timid looking gentlemen who had been invited into the very spacious and well-appointed suite of the finest hotel of the time in Philadelphia . The atmosphere was very imposing for our three colonial gentlemen who rarely entered such opulent surroundings. The two gentlemen huddled in that very official conversation were also of a superior air and manner, obviously used to greater wealth and privilege than their three visitors. The latter huddled together on one small so...