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18 Feb, 2014
Privatisation: The Right Way

By Agha Waqar

July 29, 2013 

For countries like Pakistan, the privatisation argument is mostlybased on two elements. First, the fiscal argument that governments improve their financial positions by selling public business enterprises. Second, that allocation of capital between alternative investments would improve if governments were not involved in the process. While these are true, privatisation should primarily have an economic reform focus.

 


18 Feb, 2014
Market-Friendly Or Business-Friendly?

By Ishrat Hussain

December 31, 2013

Governments in developing countries are increasingly being accused of policies and practices that favour cronies and party loyalists in allocation of scarce resources. They do this blatantly in the name of market-friendly policies thereby creating mistrust, suspicion and doubts in the minds of the ordinary citizens about the ‘market’.

 


25 May, 2011
Egypt: You Can't Eat Democracy

May 26, 2011

By Alan Fraser & Ben Crossland

But the most pressing problem for the interim government remains the economy, as in most of the Arab Spring countries: “We are very much concerned by the rise in expectations... Sometimes the demands are justified and sometimes they are unrealistic," Finance Minister Samir Radwan said this week.


02 Mar, 2011
Legislating Middlemans Ouster

By Dr. Khalil Ahmad

March 2, 2011

The middleman tends to be eliminated . . . He can only be safely eliminated by natural processes. Sometimes he is of real use and helps production; sometimes he is not; but this cannot be decided by a blind strike, but only by allowing the forces of competition to act upon him.
[Hon. Auberon Herbert]


21 Feb, 2011
Economic Backbone: Its None Of Your Business

By Nyda Mukhtar 

February 21, 2011
 
They are capable of resuscitating a dying economy and of making third world countries first world powers. They can develop cities and rural areas, put an end to wars, and make societies and communities stronger.


31 Jan, 2011
The Cruelest Tax Of All

By Sarel Oberholster 

January 31, 2011
 
The zero-interest-rate policy deserves closer scrutiny. Would a saver willingly agree to an economic environment of zero interest rates? Certainly not. Would a debtor prefer a zero interest rate? Absolutely. The saver and the debtor would, under normal, willing-economic-participant conditions, negotiate a "price" for the use of money saved. That price for the use of funds is interest.
 
The central bank enters the negotiation between saver and borrower, and by counterfeiting money it destroys the negotiating base of the saver. Counterfeiting money through policies of unlimited liquidity provision is a "price control" over interest rates, instituted to force interest rates down and eventually spiral them downwards out of control to zero. The interest income of the saver is eventually taxed to extinction at zero interest rates.
22 Jan, 2011
Monetary Policy: The Right Increase

By Ali Salman 

January 22, 2011
 
The State Bank’s decision to increase the discount rate seems justified to counter the rising inflation, a negative real interest rate and increased government borrowing.
 
When real interest rates are negative, there is no incentive for lending and saving. In such an inflationary environment, every individual would rationally spend her money today rather than save for tomorrow. This would further deepen the inflationary spiral. 

11 Jan, 2011
Trade Deficits And Fiat Currencies

January 11, 2011 

There is a definite connection between fiat currencies and trade deficits. Critics of the Federal Reserve are right to blame it for distorting trade flows and setting the US economy up for an inflationary crash. However, a trade deficit per se is not a sign of a bad economy. Indeed the trade deficit might blossom if the US ever returned to the gold standard, though it would be due to a productive net inflow of producer goods.

25 Dec, 2010
This Bread Is Mine

December 25, 2010

What Smith, Ricardo, and Marx have done, and what the followers of the latter two continue to do, is to confuse the meanings of two important words: cost and value. While it may be true in the above instance that it might cost five dollars to produce the lumber from a given tree, the value of the lumber from that tree has no immediate relationship to cost.


20 Dec, 2010
Rewarding Market For Disclosure

December 17, 2010 

Adapting existing social contracts for business transactions hold the answer towards documentation; not levy of more taxes.


20 Dec, 2010
Raising Taxes Is Not Reducing Government Spending

December 20, 2010 

The fundamental question is, who is the owner of the funds paid in taxes? Is it the citizens, who have earned the funds and who turn them over to the government under the threat of being fined or imprisoned, or even killed if they physically resist the government, or is it the government?
07 Oct, 2010
Pakistan: A Flood Of Restrictions

October 07, 2010 

The government is also considering a flood tax aiming to raise Rs.138 billion (US$1.6 billion). In the current economic meltdown, such a claim looks very implausible. Moreover, taxes always discourage private and philanthropic giving. If I were taxed in the name of flood relief, I would obey but would then refuse to give to all charitable organizations. Thus a flood surcharge would only increase the flow of cash to government coffers instead of going to the many fairly effective humanitarian charities.

16 Sep, 2010
How To Make It Through The Floods?

September 16, 2010 

At present, Pakistan remains hidebound by restrictions on economic activity. Inefficient and expensive law courts make it difficult to enforce contracts. Restrictions on property make ownership insecure and undermine investment. Employment regulations and corruption make it difficult to operate a formal business, driving economic activity underground, where it cannot be taxed. These factors put Pakistan near the bottom of every ranking of economic freedom and are the main reasons for its weak economy and slow growth.


15 Sep, 2010
Jobs without growth?

September 15, 2010

International lending agencies want Pakistan to launch public works programmes to contain rising unemployment and poverty, instead of focusing only on growth. This is a mirage hidden in a trap.


12 Mar, 2010
Micro-Finance: Taking A Step Back

March 11, 2010 

It is evident that microfinance has helped the poor in managing their cash flows and in sustaining their income levels; however, it has not necessarily helped them to come out of poverty by increasing their income levels. We can’t turn people into entrepreneurs by just providing them with capital – if this were so, we would not have seen countless examples of “rags to riches” throughout the world without the aid of any formal credit!
 

28 Jan, 2010
Market-Based Economic Model Is The Most Effective Tool For Putting The Economy Back On Rails

January 28, 2010

A market-based economic model is the most effective tool for putting the economy back on rails and a mechanism in this regard needs to be evolved in collaboration with the private sector for progress and prosperity of the country.


18 Jan, 2010
The Virtue Of Hoarding
January 19, 2010
 
Most people would admit to hoarding money only with a tinge of guilt, because to be a hoarder carries with it the suggestion of being a miser — a Scrooge. And yet, every participant in an economy based on indirect exchange holds some amount of money and can be said to be hoarding it, that is, declining to spend it. Hoarding is a strategy for achieving personal goals or for dealing with economic uncertainty.

23 Nov, 2009
A Tale Of Two Shortages

November 23, 2009

There was a time not too long ago when America's healthcare was considered the best in the world and it was affordable to all. "Instead," as Gabriel E. Vidal wrote recently on Mises.org, "health costs reflect the distortions that government regulators have introduced through reimbursement mechanisms created by command-and-control bureaucracies at federal and state levels."


20 Nov, 2009
When Stimulus Does Not Stimulate

November 20, 2009

From an economic perspective, Obama's stimulus plan is equivalent to a giant welfare scheme. Instead of the money going to lower income Americans, however, it is meant to go to municipal bureaucrats of various stripes. Instead of productive American citizens determining what to do with their own scarce resources, the state is stepping in and dictating how they will be used.


25 Jul, 2009
Apocalypse, When?
July 25, 2009
 
For many groups like the Worldwide Fund for Nature (WWF), World Population Day [today / this Saturday / July 11] is another chance to bemoan “the relentless growth in human population,” while the United Nations Population Fund says “stabilizing population would help sustain the planet.” The problem, however, is not population but poverty.
 

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