Two aspects of the problem of the unemployed educated persons are discussed in this essay. Firstly, the magnitude and incidence of the unemployment of such persons are examined. One point that becomes apparent from looking at the secondary data is that the bulk of the educated unemployed persons...

Expenditure on education is very often justified on the grounds that it is the means of providing equality of opportunity. Actually, at least two related factors prevent each child from getting an equal chance to flourish academically. Firstly, in a dual system of education, elite private...

This paper is a straightforward exercise in estimating earnings functions and computing the private rates of returns to different levels of education. The latter summarizes the incentives to the individual to invest in human capital formation, while the former helps in ascertaining the influence...

In the past few years, increasing attention has been given to the methods by which investments in developing countries should be appraised. Benefitcost analyses, based on market prices and costs, do not indicate whether an investment would be profitable from a social point of view. The methods...

Pakistan, like any developing country, must regularly divert some of the searce agFicultural land to an alternative use-to another crop, to a site for a reservoir or a plant for processing agrjculture's output, or to industrial, commercial or housing purposes. This paper is an exercise in...

The main objective of this paper was to explore if trade liberalisation has ushered in the large scale de-industrialisation that is feared by some to follow in its wake and whether it has been successful in enhancing export promotion. We relied on several different kinds of evidence to...

This paper has a two-fold objective: first, to examine the terms on which Pakistan receives aid and whether its debt situation is sustainable, and second, to examine the impact of aid and debt on economic growth. It is found that there is little encouraging that can be said about how the terms...