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State oligarchy, politics & cartelisation

Huzaima Bukhari & Dr. Ikramul Haq In July 2015, Business Recorder Research interviewed Chairman of Pakistan Sugar Mills Association (PSMA) and Director of Premier Sugar Mills (the first sugar mill set up in Pakistan in 1947).  He explained that at…

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Critique of extractive capitalism—II Surplus, wealth circulation & human development

  Dr. Ikramul Haq Modern economic systems continue to operate on a foundational assumption: accumulation drives growth. Wealth concentration is often portrayed as a necessary by-product of innovation, efficiency and productivity. Nevertheless, contemporary evidence increasingly suggests that excessive accumulation (extreme…

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Critique of extractive capitalism—I Growth, inequality & insecurity

    Dr. Ikramul Haq   Modern capitalism has become extractive, concentrating wealth and generating insecurity. Traditional socialism also failed to protect individual autonomy. A humanistic economic framework is needed—one that promotes cooperation, economic security and development of human potential….

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