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The Captivating Vision of the “New Growth Strategy”: The Missing Political Economy Perspective

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  • S. Akbar Zaidi

    () (Visiting Professor, School of International Public Affairs, Columbia University.)

Abstract

One hears little about the Planning Commission’s Framework for Economic Growth launched a year ago. This is indicative of its inappropriateness and lack of consideration of Pakistan’s economy or its structures and political economy. The Framework avoids tackling the core issues of taxation, distribution, and equity. It privileges the market and free enterprise over the role of the state, and undermines and dismisses the significant role and contribution of the government and state in promoting growth, particularly at a time when market failure has made economists rethink the role of markets after 2008. By ignoring central issues related to politics and the articulation of power, and of issues that fall in the realm of political economy, the Planning Commission constructs a technicist script that has little value to the messy world of realpolitics.

Suggested Citation

  • S. Akbar Zaidi, 2012. "The Captivating Vision of the “New Growth Strategy”: The Missing Political Economy Perspective," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 17(Special E), pages 33-49, September.
  • Handle: RePEc:lje:journl:v:17:y:2012:i:sp:p:33-49
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    More about this item

    Keywords

    Growth; political economy; Planning Commission; Pakistan.;

    JEL classification:

    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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