Financialization, Equity, and Elite Capture in Pakistan

The concept of financialization has emerged as a powerful vehicle for framing questions related to the effects on nations, corporations and households of increasingly complex financial arrangements and narratives. This paper will explore the ways in which (in)equities of health, education, income and power in Pakistan have been influenced by processes of financialization in recent years. The paper pays particular attention to the ways in which elites, especially but not exclusively located in the Pakistan military and security services, have inserted themselves into economic and financial processes. Pakistan's unique historical trajectory, as well as the historic influence of outside benefactors and non-state actors, are presented in detail as a key context for understanding the current economic rationalization efforts underway in conjunction with the International Monetary Fund