How can Pakistan get out of its Economic Crisis? | On the Mic #44

On the Mic

Uzair Younus is the Director of the Pakistan Initiative at the South Asia Center. He also hosts the Pakistonomy podcast, which focuses on Pakistan's issues through an economic and political economy lens.

Uzair and Ismail discuss problems with Pakistan's political system, and how they have impacted the country's economic system. They also talk about the magnitude of the economic crisis facing us right now, and what needs to be done regarding the IMF and other policies. Lastly, they have a broad discussion about populist policies versus "effective" policies, and what structural reforms are needed for Pakistan to grow and prosper in the future.

Books/Articles Mentioned:

"Why Nations Fail: The Origins of Power, Prosperity, and Poverty" by Daron Acemoglu and James Robinson

"The Use of Knowledge in Society" by Friedrich Hayek

Timestamps:

0:00 - Introduction

1:50 - Pakistan's political/economic history & structure

9:15 - Why haven't there been political/economic reforms?

14:30 - Pakistan's recent political & economic situation (PPP, PML-N, PTI)

30:30 - Pakistan's current economic crisis

35:20 - What should the current government do?

38:40 - Populist vs "effective" decisions

44:20 - How can Pak move forward (with structural reforms) + does Pak have a free-market system?

55:27 - Outro

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