Pakistan: the economy of an elitist state


Pakistan: the economy of an elitist state


Abstract / Description

This insightful analysis into the prevailing economic situation in Pakistan has three distinguishing features. It is an exhaustive, analytical history of economic development in Pakistan during the last seventy years; it provides an explanation of Pakistan’s economic performance in the political context, and compares it with other South Asian countries and with East Asia; it outlines for Pakistan an agenda of economic and social reforms based on a model of shared growth to see the country into the twenty-first century. The main thrust of the book is that the respective roles of the state and the market have been reversed in the case of Pakistan, with the result that the benefits are reaped by the elite class only. This small minority continues to enjoy the unjust accumulation of wealth in the midst of widespread poverty and squalor. The author establishes that such a situation is socially and economically not sustainable.

Table of Contents

  1. Growth and structural change in the Pakistan economy ------------------------ 1
  2. Production base: Agriculture and industry ----------------------------------------- 44
  3. Macroeconomic foundations: Fiscal, monetary, and exchange rate policy-126
  4. Investing in people: education, population, health, and poverty alleviation-181
  5. Physical capital: Infrastructure ------------------------------------------------------ 244
  6. Foreign trade, external debt, and resource flow ------------------------------- 279
  7. Explaining Pakistan's economic performance ---------------------------------- 342
  8. An economic and social agenda for the 21st century ------------------------- 400
  9. The Elitist Economy-------------------------------------------------------------------- 436

Publication Date


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Author Affiliation

  • Ishrat Husain is currently Professor Emeritus at the Institute of Business Administration (IBA), Karachi. He has also served as Dean and Director, IBA, Karachi (2008-16).

Pakistan: the economy of an elitist state