Development for an Equitable Society

Why are we poor and they rich? There can be myriad of answers like 'We are poor because they extracted our resources'. We receive foreign aid, so elite is not much concerned for igniting economic growth and mobilizing domestic revenue generation, thus perverse incentives created by dependency on foreign aid are the main culprit'. ‘Corruption is rampant which acts as barrier to entry into businesses. 'Our geography does not support us'. ‘We have deep class and ethnic divisions in our society'. It is easily noticeable that economic growth, inequality and development are the most ignored areas when it comes to Pakistani economists who have mostly stressed on concepts like taxation and fiscal policy. On the contrary, this book has emphasized that economic growth in Pakistan should be at the heart of all economic policy. It has been observed that policy makers in Pakistan are sticking to 60s style planning models which have got out-dated for the development in today's world. Jamil correctly notes that there must be a rethink in policy circles to chalk out a strategy for sustained long-term growth with a credible stabilization policy in place. The modern developmental theories focus largely on streghthening of institutions, management, laws and rules. Only after achieving this the equitabale and inclusive growth can be ensured which can eventually reduce the poverty. The book has covered various aspects of economic growth, inequality and poverty, It also broadly covers economic progress from various angles including some insights on newly emerging inter-disciplinary branch of knowledge called 'economics of happiness'. This book is intended for academics as well as common readers. Moreover, it can be useful for university and college-level students particularly those interested in the study of economics, political economy, and public policy. The public policy makers and practitioners will also find it interesting for background knowledge of public policy for economic development. The book is simple and readable. Hopefully, readers will enjoy it.