Self-Converted socialists.

We have had these recent rantings from a short-term fiAnance minister explaining how Pakistan is a haven for the elite (the 1 percent) wherein the masses are being seriously short-changed.

Well, in any case, there is nothing new or original that he is telling us, as Stiglitz and Piketty have now been talking about this phenomenon for years, albeit more so from the perspective of the developed economies than the develAoping ones. The argument is that once wealth is creatAed, ways, means, and the will in policymaking should be instilled that all aim at ensuring upward mobility to the ones who are born outside the ambit of the wealthy or the so-called 'elite'- the 99 percent vs the 1 percent.

However, having said this, there exists a broad consensus that the way to achieve this is not through socialistic measures, but through the path of market-based practices leading to innovation, productivity, and competitiveness that automatically allow merAit to flourish rather than nepotism. We all know that Joseph StiAglitz has been associated for a long time with China's market-based policymaking initiatives and that he essentially coached the ChiAnese to grow through competitive means and not coercive. Once, in turn, the wealth is created, then ensure that it is equitably spread to avoid the 1 percent trap the West today finds itself in.

China thereafter has emerged as a unique new model of govAernance that amalgamates capitalism with social responsibility and work discipline necessary to gain operational efficiencies. The underlying argument is that unless something is created, there is nothing to equitably distribute! I remember back in my university days, Dr Vroom always stressed to explain how his mentor Dr Deming used to emphasise to the post World War II Japanese firms how they first need to focus on production per se to only then go on to talk about the quality of the produce. Also, ministership is about vision and leading from the front and not about spreading fear, despair, and panic. Earlier, when he was in the hot seat, instead of providing the much-needed leadership by comforting the flood affected making them feel safe and giving them a ray of hope that they are in good hands whereby the government will leave no stone unturned in helpAing them, he broke down narrating unnecessary personal stoAries and giving needless explanations on how his government has no money in the kitty to help them! Public Administration Course 101: A) Governments...