Archive for October 2019

Obstacles to Democracy

This article was published in The Express Tribune, February 3rd,  2015. It explains that, contrary to popular opinion, democracy DOES NOT mean rule by political parties. Today, we see genuine efforts being made by Imran Khan to help the people, but the general mindset among the ruling classes opposes these efforts. The Colonial Mindset makes the … Continue reading »

Posted October 29, 2019 by Asad Zaman in Blogs

Colonial Mindset and Economic Policy

Re-posted from Islamic WorldView Blog: Impact of Colonial Heritage on Economic Policy in Pakistan.  [] In this post, we provide a video-lecture and a summary of comments by Guest Panelist: Dr Asad Zaman on  a Research Presentation by Syndicate-1: “Task Force on Governance”  at National Institute of Management on Thursday, 23rd May, 2019 from 12:00-13:00 … Continue reading »

Posted October 26, 2019 by Asad Zaman in Blogs

Improving Planning and Policy in Pakistan

22 Feb  2017: Seminar at MoPD&R on how we can improve planning and policy making in context of Health & Nutrition.  The seminar was based on the Outcomes and Conclusions of the Brainstorming Session on Policy Priorities for Health & Nutrition held at PIDE Friday 17th Feb 2017. An Executive Summary and outline of points … Continue reading »

Posted October 24, 2019 by Asad Zaman in Blogs

The Great Transformation of Economic Theory

Note: This is part of a sequence of posts on Central Banking, which is essential to understanding monetary policy today. Most posts are from the WEA Pedagogy Blog, and are reproduced here. I will provide an organized sequence of posts at some later date, once the sequence is complete. This post provides a broad perspective … Continue reading »

Posted October 21, 2019 by Asad Zaman in Blogs

Summary of Karl Polanyi’s Great Transformation

This post, by far the most popular I have ever written, attracts about 1000 hits per month since it was first posted about six years ago in 2013. It summarize Polanyi’s book, which was among the top ten most influential books of the twentieth century. It provides deep insights into the origins of capitalism and … Continue reading »

Posted October 18, 2019 by Asad Zaman in Blogs

Effects of Wrong Exchange Rates

Preliminary Remarks: This article was published as “Burning Billions” in Dawn, on 18th Jan 2019.  At the time it was written, there was a huge debate about the falling rupee, and most of the public supported the policies of Finance Minister to prop-up the Rupee at an artificially high rate. As has now become apparent to most … Continue reading »

Posted October 16, 2019 by Asad Zaman in Blogs

The Conflict between Microeconomics and Reality

In my paper entitled “Empirical Evidence Against Neoclassical Utility Theory: A Survey of the Literature,” I have argued that neoclassical utility theory acts as a blindfold, which prevents economists from understanding simple realities of human behavior. The paper provides many examples of this phenomenon, which I will illustrate briefly with one simple example in this … Continue reading »

Posted October 14, 2019 by Asad Zaman in Blogs

Economics for the 21st Century

Published on 22 Jan 2018 in Newsline Magazine as “ Cradle of A New Economics“.  This is a 1600 word summary of The Presidential Address at the 33rd Annual Conference of PSDE, on 12 Dec 2017 in Islamabad. Also, full 35m Video Lecture:  Failure of Economics: After the Global Financial Crisis (GFC) of 2007, the failure of economic theory … Continue reading »

Posted October 13, 2019 by Asad Zaman in Blogs

Michel Foucault: Power/Knowledge

We cannot understand the world around us without a sophisticated understanding of the complex but intimate relationship between knowledge and power. One of the most influential philosophers of the twentieth century, Michel Foucault, crafted a radically different understanding of this relationship. Instead of seeing power in brute force, he saw power as being the ability … Continue reading »

Posted October 11, 2019 by Asad Zaman in Blogs

Monetary Policy from 1914 to 1980s

This series of posts is based on a single lecture (Lecture 13 of Advanced Macro II) exploring the evolving functions of Central Banks through time. It goes through a vast amount of material in a very short time, and hence is a very sketchy treatment. This is the 3rd post,  which deals with the period … Continue reading »

Posted October 8, 2019 by Asad Zaman in Blogs