Re: Pakistan economic snapshot 03-07 IMF data
What universe do you live in? No credible economists these days believe that the trickle down effecrt is useful…
The reason why Pakistan is elitist society it is is because of self proclaimed geniuses such as yourself who have absolutely no faith in the people you claim to be helping. Its this arrogant and self deluded view of people that makes Pakistan the place it is today, everyone thinking they know better… Its why the Army runs the country, why the country is run by feudals etc.
For your info, I didnt say the micro financing was the ONLY way to deal with poverty, I said the way to deal with it is to tackle the problem at the ground level, by involving the people themselves. The Grameen bank works because it involves the very people it is trying to help. It makes it easier for the people (majority of their borrowers are women, so I doubt such customers would be marrying several wives) to get low intrest loans and thus bypass the beaurocracy, the hassle and the extensive paperwrok which these people could hardly deal, because lets face it they are probably illiterate to boot. The Grameen Bank has shown that when you deal with people at their level, the effect can be extremely surprising. The return rate for the bank is 99%.
One of the reasons the IMF sponsored poverty alleviation programs didnt work was because it simply was to distant for the common man. It was plagued by the same problems with all such programs that focus on the govt to distribute the funds… There was little accountancy, very little coordination etc, and the high corruption that is another reason for the trickle down effect not working.
You can see for yourself the ineffectivness of the trickle down theory when you consider how poverty is stil rampant in India, why the BJP was kicked out, why in Pakistan the richers are getting richer and why the poor arent able to improve their lot.. The only country that has made major dent in poverty that I can think of is China which HAS undergone double digit growth, but even their there is still a huge gap between urban and rural development.
So basically its you who needs to stop talking unless you have something credible to back up you verbal flatulence.