Tag Archives: economics

State of research in Pakistan…

Nadeem ul Haque, a senior, respected economist has some insightful remarks to make about the state of policy research institutions in Pakistan

For 5 years the position of the Chief Economist of the Planning Commission has been vacant. The PIDE Director/Vice Chancellor has served in an “acting” capacity! Why “acting?” And how do you keep someone in an “acting” position for years? Is that good governance?

Every few months the government runs expensive ads (the most recent is produced below). They seem to be content with placing the ad! There is no serious effort then made to fill the position.

This is not the only position this has happened with. The SECP position too was left vacant for many months on a number of occasions.

The government seems to find it very hard to find professional economists. Why is this so? I would welcome your views on this subject!

I would like to point out that very few senior positions are filled by the mere placement of an ad! Often this is a matter for a search committee and serious effort by several competent people to seek an ideal candidate and persuade him or her to accept the proposed position. Since the government is unwilling to form such a search committee and seek out serious people, perhaps it should stop wasting tax-payer’s money on such ads! (Even when they form a search committee they will pick on the most well known establishment figures who in turn will find a very well known non-professional or a house-broken professional who will not rock the boat.) No wonder the government seems to have no fresh thinking.

Read the full post here

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Filed under Development, Economy, Research

Farewell to the neo-classical revolution

by Robert Skidelsky

A few geniuses aside, economists frame their assumptions to suit existing states of affairs, and then invest them with an aura of permanent truth. They are intellectual butlers, serving the interests of those in power, not vigilant observers of shifting reality

The looming bankruptcy of Lehman Brothers and the forced sale of Merrill Lynch, two of the greatest names in finance, mark the end of an era. But what will come next?

Cycles of economic fashion are as old as business cycles, and are usually caused by deep business disturbances. “Liberal” cycles are followed by “conservative” cycles, which give way to new “liberal” cycles, and so on. Continue reading

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Filed under capitalism, finance, United States