BUILDING A HUMAN ECONOMY TO OVERCOME UNDERDEVELOPMENT: A STRATEGY OF SUSTAINED GROWTH AND ECONOMIC INDEPENDENCE
Keywords:
Human Economy, Human Capabilities, Institutional Structure, Innovation, Product Space, Transformative Development, Sustained Economic GrowthAbstract
Overcoming underdevelopment requires building a human economy that places people at
the center of the development process as well as the measure of progress. Pakistan can be
pulled out of underdevelopment through a change in the institutional structure from one
that works for the rich to one that works for the poor. This would establish a human
economy that provides equality of opportunity to all citizens to actualize the human
potential of the society. It is within a human economy that the enterprise, talent and
innovation of the people can become the real strength of a state and the basis of achieving
sustained economic growth. The research paper presents the outline of a four pronged
strategy of transformative development that generates growth through equality.
