pakistan the economy of an elitist state

Useful Resource
on Pakistan’s
Economic Evolution

By Aadil Nakhoda | January 2020

Book Title : pakistan the economy of an elitist state
Author    : Ishrat Husain
Year     : 2019
Publisher  : Oxford University Press
Pages    : 556
ISBN     : 978-0-19-940661-6

The second edition of “Pakistan The Economy of an Elitist State” authored by Dr. Ishrat Husain, published in 2019, provides readers an excellent and detailed analysis of the economic conditions that have persisted throughout the history of Pakistan. It is a useful resource on the economic history of Pakistan. The book explains how Pakistan has experienced volatile economic growth rates, uneven and low levels of development and weak social indicators.

The socio-economic environment in Pakistan clearly suggests the domination of the elite class in the political systems as well as in the distribution of economic resources. This tilting in their favour has created what the author refers to as an ‘elitist state’. The fact that the author goes beyond the scope of economics and expands the horizon of the discussion with the aid of political economy helps the reader get a better understanding of the economic conditions prevalent in the country and their impact on the distribution of resources across different strata of society. The extensive coverage in the book makes it highly recommended for all individuals interested in the economy of Pakistan.

Dr. Ishrat Husain is a leading expert on the economy of Pakistan. He has over twenty years of experience serving in various positions in Pakistan apart from his experience in the World Bank, spanning more than two decades. The first edition of the book under review was published in 1999 when Dr. Ishrat Hussain was still working at the World Bank. He later served as the Governor of the State Bank of Pakistan, the country’s financial regulator and has first-hand information on the workings of the elitist state. The elitist group are not only major borrowers from the banks but several within the group have large stakes of ownership in major banks across the country.

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