Understanding The Political Economy Of Pakistan Ft. Dr. Taimur Rahman | 295 | TBT
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- čas přidán 4. 07. 2024
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In tonight’s conversation with our special guest, Dr. Taimur Rahman. What was his early life & education like? What are the areas that made him think differently about Pakistan? What is his experience at LUMS like? What is political economy? Why did he focus on the Pakistani class structure? What was Pakistan like before the British invasion? What was trade & commerce like in the middle age? Political economy at the time of evolution? How has Pakistan's economy evolved since 1947? What is a green revolution? How did it affect the social structure? What happened to the economic growth in the 70s? Why are most of the skilled labor & capital of Pakistan immigrating? What public sector can do to solve the problems? What did India do to build their infrastructure through the public sector? IMF, the economic policy, taxation & profit maximization? How can the government fix the power issues in Pakistan? The bureaucracy of Pakistan? Making PIA efficient Vs. International airlines? Capitalist Vs. Socialist solution? How does he envision Pakistan in 2050? Catch this and much more in tonight's episode.
#thoughtbehindthings #muzamilhasan #politicalscience
00:00 Tonight’s guest: Dr. Taimur Rahman
01:13 His early life & education
02:20 What are the areas that made him think differently about Pakistan?
05:36 His experience at LUMS
07:48 What is political economy?
09:21 Why did he focus on the Pakistani class structure?
10:32 What was Pakistan like before the British invasion?
16:15 Trade & commerce in the medieval period
17:20 The evolution of capitalism in Pakistan, India & Europe
21:01 Political economy at the time of evolution
22:49 How has Pakistan's economy evolved since 1947?
25:44 Green revolution
27:21 How did it affect the social structure?
30:28 What happened to the economic growth in the 70s?
33:20 Bhutto’s undemocratic behavior & the growth of Pakistan
37:22 Why are most of the skilled labor & capital of Pakistan immigrating?
40:20 How can we solve these issues?
45:07 What public sector can do to solve the problems?
48:10 What did India do to build their infrastructure through the public sector?
52:02 Liberalization & the glittering generality
54:29 IMF, the economic policy, taxation & profit maximization
1:08:02 What will be the impact of output maximization?
1:09:04 Output Vs. Growth maximizing
1:11:19 How can the government fix the power issues in Pakistan?
1:12:25 How can we solve the problems in our economy?
1:18:06 Government, efficiency & the technology
1:21:08 The bureaucracy of Pakistan
1:26:35 Making PIA efficient Vs. International airlines
1:48:43 Capitalist Vs. Socialist solution
1:52:51 How does he envision Pakistan in 2050?
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For all those who think there should be Part 2 comment. Get Dr taimur Rehman again on the pod.
Get him with an intelligent neolib like Uzair Younus
@@AKumar-co7oe neo lib talking point : only job of government is to protect private property .... And settle disputes.....
Lol....... Good if u r born in rich family... 70-80% population ke pach 3-4 room ka Ghar , 4-5 lakh bank balance.... choti si private property.
Basically above statement : government only job is to protect d rich who have 20-30 cr cash/ property and above .
@@jeshminhaxarika5479 Feel free to try state led development aka license raj - we tried it for for 30 years and while it was not all bad and we built some capacities, we would still not wish it on our worst enemies - i.e. YOU.
To be honest Pakistan's problem is toxic islamism, feudalism and an elite culture of lying and taking shortcuts instead of telling the truth and committing to nation building - no policy, neolib or commie - will ever work for you guys until that core is broken. Add to that your confrontation with india that means every country/company which wants to invest also has to think whether they want to bet on the pakistani horse or the indian one - investors in bangladesh don't even think about that question. But Saab would never put up a plant in Pakistan if it ever wants to sell anything to India again.
@@jeshminhaxarika5479 BTW, I also support a hybrid model in which the private sector is given significant freedom but in which the government still builds homes for the underprivileged - provides education healthcare, basic ration like rice and dal etc and subsidizes inputs that have positive externalities like transportation and renewable energy and penalizes those that have negative externalities like fossil fuels and plastic waste.
Thankfully Indian economists are smart enough to do all this on my behalf.
@@jeshminhaxarika5479 He is making fool of people ek government school ka naam bta kr efficiency ki baat kra h baaki government school ka kya ? Jb ye same point rakhta hai Neo liberal se 5-7 countries ko profit hua aur 150 countries ko losss
That's the first economist I've heard who can talk for hours without diving into the current political landscape. And I mean this in a good way.
lots of love from India. 🇮🇳❤❤.... he is truly a gem..... so articulate....
But suddenly starts saying crap in the last 1/3rd in favor of bloated government organizations, sounds like a classic indian leftist. Until and unless you have capitalist organization style incentive structures in a PSU - you will not see efficiencies emerge in the employees. Once the first guy gets fired from PIA for incompetence then you will see them at top performance in their next railways appointment
Mr.Rehman seems to have perfected the art of teaching while making the topic immensely interesting. Doesnt appear patronizing like our typical Pakistani professors.hes like a friendly genius friend you have in clg who knows everything and wants you to learn more than you yourself might want to.
He is making fool of people ek government school ka naam bta kr efficiency ki baat kra h baaki government school ka kya ? Jb ye same point rakhta hai Neo liberal se 5-7 countries ko profit hua aur 150 countries ko losss
Acha, aisi baat hai?
@@bharatkapoor4062 yeah, so that basically proves his point that efficiency is not in any way related to the ownership of production. As inefficiencies and efficiencies both exist in public as well as the private sector, the productivity curve is dependent on the technology and management of a firm. Not so difficult of a concept to grasp
@@syedmuhammadabdullah1431 no government can not fire it's employees in private competition is cut throat u have to perform in government chalta hai attitude by babus but in private time is money
How come all fools are celebrated in Pakistan.
He is a socialist in blood. His all thing was just nit picking every word and not understanding the context and if he teaches u economics than god bless Pakistan. Learn from him.
When you invite a guest like Dr Taimur Rahman, you should allow them to speak and not interfere too much. You can challenge them once they're done speaking.
really irritating watching him repeatedly interrupt Dr. Taimur and not letting him complete his talk
That's why Junaid Akram is best in the category 💯
True
At 3 instances where guest was about to explain some points but it was left because host interrupted him:
1. Point where he was explaining about difference between profit vs output vs growth maximization, he was going to explain further that in some industries like electricity, education, trackters, steel factories etc society needs to prefer output maximization because that will lead to growth maximization in long term but since market follows the principle of profit maximization and profit max doesn't coincide with output max therefore market mechanism will fail there. That was his main point against leaving the economy to market mechanism.
2. Point where they were arguing over whether one has right to frame the question of tax expenditure as "where was my money used?", Guest's basic point was that an individual has right to know where tax was spend not because it is their money but because government should be transparent to public. Host was saying that an individual has right to know because it was their money. Guest's point was lost due to continuous interruption.
3. At last he was going to explain how can a bankrupt state manage to invest in infrastructure development in those industries where output maximization is needed instead of profit maximization but again here he was interrupted.
Last point I want to add is that Muzamil has very romanticized idea of post liberalization India. If he is reading this comment he should seriously read the P Sainath's and and several other Indian political economist works. P Sainath runs an online journalistic website called Peoples Archive of Rural India (PARI)
Well point 3 he was not actually doing it.
In point 2 because we are democratic country i as an infividual have a right to elect my representitives who use my fund more efficiently and if people sharing my idea are miniority it wont happen and people having same thought process as me are majority it would happen.
And its not first of all speech. Niether an interview where you ask question and wait for the answer to end its a pod cast where disscussion is happening questions come out of the answers. What you call interruption is actually making a point and clearly stating the conflict in your mind. And of course the only example that is near to us and emerged is india after taking part from socialist ideas.
Actually he never discussed the equation where output maximization is needed . . Infact muzzamil did try to bring in the the demand factor and competition impact in the output maximization but Dr taimur was more into the idea of nullifying profile max . . So the point remained unclear and the argument was lost on the shuffle
@@alihaider5190 He is making fool of people ek government school ka naam bta kr efficiency ki baat kra h baaki government school ka kya ? Jb ye same point rakhta hai Neo liberal se 5-7 countries ko profit hua aur 150 countries ko losss
The guest (Taimur Rahman) recently made a podcast on Profit Maximization vs. Output Maximization if you want to learn more about this topic. It is fascinating.
@@shariq7 he making argument Neo liberal failed but where is communist are happy? Itnfailed.too
Sorry to say. syed muzammil.
Dr. Taimor is extremely genius . You cant argu with him or counter him and teach him . He is so perfect in his theory
you cant argue with a teacher who handles so many questions every day and also have a political party
yehi soch humein peechay khenchti hay
Why can't?
Dear Muzamil Bhai, Greetings from Mumbai. Good to see Dr Taimur Rehman on the podcast , who gave diff perspective to issues of Pakistan.
Dr Taimur Rehman comes out as a very learned, articulate and grounded person. His videos on YT exhibits multi-facet personality as an Economist, teacher, musician , lucid speaker and balanced interviewer.
Pvt sector has sole aim of maximising profits, which runs against basic need of Public services like primary & secondary health & education, Infra , environment etc. Developing economies like Pakistan need State interventions in critical sectors like Health, Education,Water , Power , Communication, Infra like Railways , Universal Banking . Once society reaches a critical mass , pvt sector can expand its reach further. Pvt sector needs to be encouraged in other areas , which demands technology, innovation etc. His Socialist ideas surely adds to the public discourse in Pakistan on Political Economics.
Aoa Muzamil! I have been following your podcast for a long time now. For this particular podcast, I feel it could have been so much more interesting if only you would have let Dr. Taimur speak more. I have repeatedly noticed how you interrupt your guests, and it was particularly pronounced in this session when Dr. Sahab was trying to make a point. As an avid listener of your podcast I’d appreciate if you work on your listening skills and respect the guest because clearly they have been invited to your show for their expertise. P.S may be you were having a bad day.
I first heard about Taimur Rehman back in 2010, when he made an appearance on FM 91. Still the same amazing guy. I just want to know what's his secret for staying happy all the time. He always has a smile on face. So soft spoken. Mashallah.
I first saw him on ravish kumar show ..i was like so much anti socialism
His secret for life is 'laal maal' 🍉🍉
Wikipedia finally have something to say about Taimur. These kinds of debates are healthy for youth rather than our political debates on news channels of pakistan.
Damn!! Dr. Taimoor is so genius. 🔥
Sir was literally teaching him while using that paper as white board
Every lecture,speech,podcast is a treat & enrichment for the brain
Malnutritioned tha kya brain pehlay?
Need part 2 of this.. also 1st time ever I felt Muzamil didn’t let guest to finish his comments and brought his counter questions which maybe formulated while the guest was speaking…
Muzammil is a rude host, he disrespects the guests when they don't say what he wants to hear.
I believe that when you invite someone, then let them speak instead of you speaking
As a pakistani I feel Good to see such a platform where economic issues are discussed which ideally should have been discussed in our parliament.
Let's hope for the best. Keep doing good work.
Really good to know you've invited someone from Liberal Arts background... Pakistanis are too much obsessed with Science, Technology and Medicine. We want more people from liberal arts, social sciences, management sciences these fields teaches broad knowledge of how world and society works.
He is making fool of people ek government school ka naam bta kr efficiency ki baat kra h baaki government school ka kya ? Jb ye same point rakhta hai Neo liberal se 5-7 countries ko profit hua aur 150 countries ko losss
@@bharatkapoor4062 Idk I was just appreciating Muzzamil for inviting him...
@@bharatkapoor4062 BTW, neoliberal se 30-40 countries ka fayeda hua hai reflecting more than 50% of world population - India/China, South east Asia and Eastern Europe have all benefited a lot.
@@AKumar-co7oe hahahaha china is not Neo liberal Chinese opened there economy but they make there home companies very strong first and don't forget Chinese govt is having share in private companies of china
@Left your choice of video is amazing then
Muzammil, you framed it incorrectly "I have the right to know where my money is spent."
Dr. Taimur was correct here "I, as a public individual, have the right to know where public money is spent."
Potayto potaato
OK this means if i'm not a public figure then i don't have any right to know where my money is spent,where the taxes go which i paid ?
Great Sir!Not a podcast but a learning session.Respect & regards from India!
Muzzammil, while I like your podcasts and I appreciate how you question your guest, this is where Dr. Taimur ate you. His arguments were so scholarly and unbiased while you kept on pushing on neo liberal policies and half baked knowledge on economics. Hope this is a lesson to you that when you bring in such few, great, intellectually capable personalities you give them a due respect and the ear to hear the other side.
Really wanted to hear Dr. Taimur on TBT🤩
Glad that he's finally here ♥️
There was no need to get so opinionated & emotional over PIA. The guest must be completely listened and their opinion should be respected. This is what sets apart a podcast from a regular TV talk show. Overall it was an engaging, thoughtful talk.
This guy is a gem!
Ahhh man the more i see Dr Taimur, the more i fall in love with the articulation of his ideas. I may not agree with a few things he has to say but it sure is fascinating to see him speak. This was lovely podcast.. 2 thumbs up to you too Muzamil. These 2 hours passed in an instant. It was so interesting !!!!
This was an amazing podcast to comprehend the core problems haunting Pakistan's economy.
I do understand that such a podcast is meant to have the idea understood by people from all spheres of life, and Muzzamil did a good job at asking questions which were basic and simple yet demanded depth from Dr. Rehman. However, I think the questions and the structure could be further refined. This podcast also draws clear lines between knowledge acquired through 'infotainment' and that acquired through years and years of research.
Love the way Mr. Rehman, makes sure that he has delivered his point, for a great presenter is never satisfied in moving to the next topics before finishing the previous.
Thank you for bringing such an intellectual and an accomplished academic to the show. Dr. Rehman is one of those people you wish in life to be one like.
The podcast was very helpful!
Very animated discussion. Kudos to Dr.sb for being so kind and gentle. Would love to have more of these types of discussions.
بہت بہترین گفتگو رہی۔ سن کر فائدہ ہوا، کئی مغالطے درست ہوئے۔ اس پر مزید بات ہونا چاہیے۔ شکریہ
nahin Janab apka Shukriya
Jeetay Rahein
Will wait for a second part definitely.
Probably my favorite podcast from Muzammil-- straight to political economy, not bakwas.
Respect Respect Respect n good wishes for Dr Taimur Rehman....muzzamil needs to learn
One can listen this lecture over and over again , without getting bored even once. Kia bat hai Murshad ❤️❤️
this entire podcast was very funny
it looks like muzammil is having flashbacks to his Olevel economics ki tuition with a frustrated tutor trying to jam in the concepts 10 days before his finals hahahah
He is Adam Smith of Riyasat-e-Madina😎
Muzammil larna hi shuru ho gaya hy end mein.... bhai jis guest ko bulaya hy, usey bolny to do.... agar khud hi sb bolna hy, to apna aik alag lecture record kr k laga do... even if you disagree from the opinion of the guest, just let them state what they want to state..... why so much arguing to prove him wrong???
The professor proves why he is a professor 😂.
Cherry on the top: Economics/politics professor 😂
Econ professors se to koi jeet he nhi skta 🤣
@@nycto16 exactly 💯
@@RH-ll1tu 🤓🙌
Here you come bringing a gem to your podcast 🤩
Ye gems kahan mine hotay Hain Bhai? I needed one
Dr taimur is very right in saying that Pakistan requires self reliance rather than opening doors to free international market . . One of the reasons that it will destroy chances of any budding local industry
Ok point noted. Will let finance minister know
@@majestiint3537 hahaha 🤣 you are funny
Easily one of the best informative podcast on this channel.
This deserves a part 2
Excellent conversation
Brilliant podcasts!!! Very informative! Pls call Dr Taimur again. He is a true gem!
Dr. Tamoor is just on the point...Develop the public sector of economy, invest in the public sector industrial infrastructure and make it productive.
best teacher everrr!!!
Amazing podcast!!! So informative!! Would love to see another one with the same guest.
Phew! So it took me two days of listening to complete this episode. Very honestly, I was attracted to this video because of Dr Taimoor, and although I knew you early as the podcast guy doing very good job and according to some you are a Babar Azam of podcasts, I didn’t know you have got a lot of knowledge to have one on one discussion with Dr Taimoor on such topics and to ask very tough questions at some times. This was impressive from your part I must say, and I’m thinking to listen to you also on regular basis from now onwards.
"Man of knowledge"
I just watched 3 podcasts in a row and i know more about Pakistan now then ever before in my 21years that ive lived 😂
And now im a Fan of you.
From my heart i wish tha you continue through this magnificent
Journey so that the people of Pakistan awake from "zaroori kam wali neend" and do something about their country
One of the excellent discussions I've ever seen. I like your topics muzamil. Keep on doing such intellectual discussions.
Schooled the O level self proclaimed macroeconomist ! 😂
I dont understand who are you referring to
@@wasaymoria9061 Muzamil.
Indian export breakdown :
600 billion :
1. 80-100 billion IT services export ( thz to government investment in education, IIT)
2. 60billion , diamond polishing jwellery export ( thz gujrati bussiness mindset , traditional business scalled for export)
3. 35-40 billion textile export ( thz to cheap labor , government subsidy)
4. 60 billion petroleum products export ( thz to enterprenuership ambani family , private refinery, efficient government owned refinery )
5. 40 billion basmati rice and tea, jute export ( thz geography , poor wage labor )
6. 50-60 billion , pharma export ( thz to investment in education , good government policy, )
7. Chemical export , engineering equipment export etc etc
IT Export Was 178 Billion Dollars, I Guess.
Dr Taimur Rahman... What a brain!
Always a treat to listen to Dr. Taimur.
what an amazing teacher.. wonderful. I wish I could get a chance to be taught by him.
Very insightful discussion
So much food for thought. I believe debate and dispute is a better way to ideate rather than presenting a specific narrative alone.
Dr Taimur ❤ Nailed it
1:21:51 That is one hell of a caricature.
One thing muzamil please give some time to guest to finish their point .
Other wise brilliant podcast
Well done sir, keep it up
Please do another round, It was a whole different prespective. Great conversation.
Regarding output maximization muzzamil was giving very important concern keeping the competition and demand in the equation. . I couldn't get get that part clear . . Taimur Sahab discussed his point but this point got lost in the shuffle
Very Informative podcast.
Best podcast so far.
Hats off, lot of learning,
Loved this podcast... Very thought provoking
Such a great mind, would love to see more of him in ur show
Wow this was a stunning eye opener!!
what a great watch! man learnt so much gained so much!
Dr Taimur 🔥
Dobara honi chahye esi podcast Bhai🌹
Real podcast i would say perfect discussion
Wow he is very positive person
Listening Dr sb is fabulous and always enlightening. His views are very much with clarity and he has practical flavour for system change by his own way. You can brand him left leaning but I think what all he says is universal and verily related to this part of the land. His views are a kind of paradigm shift and it is only viable if whole part of the land focused to change. Now a days his school of theory is being applied in most of the countries successfully and we can also do within Pakistan. His Political views are little rigid and skewed what may be a difficult proposition because of the political school of thought in Pakistan. Let's hope he continued his effort to find out a good leadership but not like Bhutto and his legacy.
Please stop interrupting the guest and ask counter questions in a polite way
Commendable...Please bring people like Senator Javid Jabbar and Munawar Sabir...
Love the discourse, civil and logical.
Wow ... what a podcast, loved it immensely. So much respect for both individuals ...... Despite my differences with Dr Taimoor. I have loved this podcast listening to him as an expert on Political economy for the first time instead of a SOCIALIST Purely. Thanks to the host. Brilliant answer to the last question by Dr. Taimoor, loved its simplicity.
Thank you for calling this guy 😍💞
Brilliant rational & logical discussion........yes there should be part two....
A very healthy and open discussion of ideas and road map for the future of the Pakistan economy.
Arey in donu koi nahi sun'ta yahan, aisey hee lagy hain.. Finance minister be Karni apni hee hai 😂😂
Arey in donu ki koi nahi sun'ta yahan.. Finance minister ne Karni apni hee hai 😂😂
Thank God Pakistan has some intelligent people. Enjoy listening to him. God bless him and protect him.
Dr. Taimoor for the PRIMEMINISTER❤
Wow, Dr. Taimur Rahman has shared such great ideas and options for growth and progress, Muzamil bhai; you really need to get out of this kind of capitalism and materialistic thinking. There is always a solution with socialism if the government is willing to go for it. I agree with Dr. Taimur Rahman. great discussion overall.
thanks alot for this podcast please also bring sahil adeem
Masterpiece! My 2 favourites.
Very eloquent. Thankyou for such a wonderful podcast
Dr sb needs more limelight he is genius💯
Taimur super rational approach
Its my dream to become a professor in the field of psychology, marketing and sociology one day.
Fantastic 💯
Most informative as well as interesting for me on this channel.
Feeling so good after listening Dr. Sb
🟥❤️🟥❤️🟥❤️ 🟥I am a proud supporter of mazdoor kisaan party from Sindh
Wow.. what an amazing podcast !!
What an excellent program!!!
Excellent talk and very informative too. Loved it.
What a Stimulating discussion it was , best of TBT . More of this . Talking about solution .
Truly informative and it also installs a curiosity in me as well. ✅
This was the most thought provoking and interesting podcast on this channel !! Really enjoyed it
A very good podcast, treat to the brain! Dr Rehman is great at communication and supporting his ideas. I loved the conversation between an economist and a business student... Muzamil bhai capitalism is based on numbers - life is not. I agree to Rehman's hybrid approach. I think 'Technology' provides solutions to a lot of Pakistan's problems!! This will require 2 things "neeat" (don't equate it with the 'will' in english) and "sabr" (yes, both words are taken from religious context, will make sense if thought upon without prejudices). The people of Pakistan need to have those two factors more than expecting from the government. Happy new year!
MashaAllah MashaAllah ❤️ 💖So phenomenal awesome podcast 🥺🥺🥺❤️😍😍😍 specially the chapters system is too good 👍👍 also please invite him again with the economist Uzair Younus bhai in part 2 💝
the exchange of ideas and then the exchange of the respect got me!
you both were excellent, applause