This is apropos a Business Recorder editorial "'Charter of economy'" carried by the newspaper yesterday. The newspaper has argued, among other things, that "However, all its efforts could be frustrated by a determined opposition within the parliament and outside, by playing on the difficulty and misery of the poor strata of society. As the developments over the past few months indicate, their way is clear as they can exploit some highly negative developments such as recent rise in prices, a reduction in subsidies, the sharp increase in the energy prices, debasement of the local currency and rising unemployment which are usually concomitant of a stabilisation process."
John Maynord Keynes had famously said that "in the long run we are all dead." In other words, the great economist had underscored the need for moderation in austerity measures. Our policymakers must draw a lesson from the abovementioned late British economist's quotation. True, in the long run we are all dead.
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