Whether democracy is a precondition for development is a debate that continues to stimulate scholarly reflection till the present day. While this intellectual reflection is praiseworthy, the discussion could have been settled long ago when Amartya Sen redefined the concept of ‘development’ as ‘freedom’– a notion that strongly resonates with the human spirit.
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The 2024 election in Pakistan deserves praise for three reasons: the spirited participation of the people, including women and young voters; the largely secure environment in which voters gathered; and the confirmation of the people’s commitment to a democratic process. What is also worth noting, however, is the technologically primitive nature of the electoral process, as if we were voting in 1924 rather than in 2024.
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In the book Public Value and the Post-Pandemic Society, author Dr Usman W. Chohan discusses the ‘post-pandemic’ era through the prism of Public Value (PV) scholarship. The first section of the book, titled ‘Changes and Transitions,’ examines the notions of value transition and value stability in the context of the post-COVID era and discusses the two most salient manifestations of challenges to the post-pandemic society, including stagflation and the great resignation.
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2023 began on a dismal note for Pakistan’s economy, as foreign exchange reserves were fast-depleting, remittances and exports were declining, the rupee was depreciating, industrial production was decreasing, and inflation surged – resulting from a confluence of multiple internal and external factors. In the months leading up to June, newspaper and media headlines continued to warn that the country’s economic crisis could soon morph into a sovereign default without a bailout loan from the International Monetary Fund (IMF).
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In ‘Geo-Economics: The Interplay between Geopolitics, Economics, and Investments,’ Joachim Klement delves into the intricate relationship between geopolitical events and the world of finance and investment. Through evidence-based data and analysis, Klement explores how geopolitical trends shape the global economy and financial markets, both in the present and the foreseeable future.
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The saga of Pakistan and the FATF is one that I have written about extensively, having been an ardent contributor and advocate for the strategy that led to the country’s ultimately successful exit from the dreaded gray-list. The crux of that strategy involved a twofold approach: (1) improving financial oversight, legal frameworks, and institutional coordination for the intrinsic benefit to the financial regime, but also (2) calling out the deeply-politicized and corrupt agenda of the FATF as a transboundary body run amok. This dual-approach yielded excellent results for Pakistan, and incidentally, the agent-provocateur of that tussle with the FATF is now up for a similar review.
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