A critical look at the Pak economy

[king_faisal]

Re: A critical look at the Pak economy

@ravage

Not really, no.

Recommended reading:

http://www.wilsoncenter.org/index.cfm?fuseaction=wq.essay&essay_id=361250

First off, microcredit doesnt generate as much new business as it consolidates existing small businesses and allows people to transfer their earning power into things like cows/ploughs/tractors etc. Isnt really contingent on the economic climate, since a cow will produce the same milk in recession as it does in boom time.

Secondly a very easy counterpoint to you is that microcredit is all the rage in the poorest countries of the world. Romania, Africa, Bangladesh. As this article mentions, bulk of it from private investors. Unless in some bizarro universe poor country equals strong economy, Im afraid your example doesnt fly.

dude, poor country can experience strong economic growth example being india. since you dont seem to grasp this basic fact, further discussion is wasted.