November 6, 2016
“Practical men who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist. Madmen in authority, who hear voices in the air, are distilling their frenzy from some academic scribbler of a few years back” John Maynard Keynes.
Let us look at the prevailing economic narrative and see if we are following some 'academic scribbler of the past?"
What is the prevailing economic narrative of Pakistan?
Is it consistent with our needs?
Is it based on solid foundations of modern thought?
Why don't we have an honest debate on it?
Is this economic narrative leading to bad policy choices?
Is this the reason why progress eludes us?