Featuring
Professor Philip Auerswald
George Mason University

With discussant
Professor Paula Newberg
Georgetown University

Abstract: For six decades, Pakistan has faced, and intermittently overcome, conflict and calamity. Today Pakistan confronts a new round of immediate challenges and urgent demands. Yet, it is precisely at this moment of apparent crisis—in the aftermath of a devastating flood and with security concerns continuing to dominate the national agenda—that the need to change the discourse about the country’s development has become most apparent. Reactive tactics and dependence on external aid are not helping Pakistan to develop or to realize its potential. Sustained and sustainable development cannot come from a collection of projects, no matter how well intended. This study of entrepreneurship and markets outlines a development approach for Pakistan focused on enhancing competition, encouraging entrepreneurship, and minimizing transactions costs.