A summary of article by Jalaluddin Soofi EMBA summer 2009 Registration: 080912
Introduction:
The article is written by By Shahid Javed Burki printed in Dawn dated: Monday, 20 Apr, 2009. The author who is also the chairman Planning Commission’s Task Force on Private Sector Development is an Economist expressing his concern about financial crisis in our country, how the world and our country entering a new era of capitalism which requires the states interventions.
Summary:
The meaning of capitalism is changing today to a more active role required to be played by the state.
Emerging countries especially Pakistan which relay on external finance must develop new ideas.
Mr. Gilani said that they didn’t want strings attached to aid provided by US referring politics, US and other potential donors want to see that their money is actually helping economic stability and progress of the country thus wants government to look into proper use of the aid.
The Washington Consensus had a num...