India, Bangladesh, Vietnam and some other emerging markets have made tremendous strides in the economic and financial sectors. This prompts many to assert that Pakistan can also be an economic power if it wants. But they usually ignore the multiple factors that contributed to the economic prosperity of those countries.

Experts say that factors like the movement of capital, the size and population of a country, a country’s natural resources, developmental infrastructure and business policies, and the overall international and regional political environment and political stability of a state contribute to the economic growth of a country.

Let’s suppose a country has all these prerequisites for industrial and business growth, will it still attract investment? If all states are equipped with the above-mentioned golden principles of business, will they also attain the height of economic prosperity? The answer is ‘no’ because capitalism is not meant to empower all.

Capitalism triggers uneven development. Despite its claims of bringing prosperity to all corners of the world, the reality is different. It brings wealth and opulence to only a few states. It is perhaps because of this that we still have groups like G7.

History tells us that the prosperity of one region or country used to be at the expense of another country or region. For instance, when Spain and Portugal emerged as prosperous nations after 1492, it was at the expense of African, Asian and South and Central American regions. The two European powers ruthlessly plundered these regions, reducing indigenous people to slaves. Merciless massacres, genocides and subjugation of local people should also be kept in view when praising the innovations of these early explorers who are considered the godfather of the new........

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