What Pakistan can learn from the economics Nobel laureate

By Murtaza Haider

From food items to consumer products, Pakistanis pay significantly higher prices than others in the region.

Being left at the mercy of oligopolies, which have controlled markets since Pakistan’s creation in 1947, the consumers have been forced to pay higher prices for, at times, inferior quality goods.

Another newly minted Nobel laureate’s efforts may help Pakistanis break free of the tyrannical control of State monopolies and private oligopolies.

Professor Jean Tirole of France has received the 2014 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for his work on market power and regulation. His research has shown how firms gain market power and set prices at the detriment of consumers. His work is as relevant to privatisation-happy Pakistan as it is to developed economies.

Read more » DAWN
http://www.dawn.com/news/1138136

By using this service you agree not to post material that is obscene, harassing, defamatory, or otherwise objectionable. Although IAOJ does not monitor comments posted to this site (and has no obligation to), it reserves the right to delete, edit, or move any material that it deems to be in violation of this rule.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s