Exploring M. Fouzul Kabir Khan's new publication: 'Bangladesh's Political Economy' – an analysis of the nation's economic and political landscape

In a timely and insightful exploration of Bangladesh's economic landscape, renowned economist M. Fouzul Kabir Kabir has published a breaking news book titled "Bangladesher Rajnoitic Orthoniti (Bangladesh's Political Economy)". The book, a collection of Fouzul's thoughtfully composed articles, originally published in Prothom Alo, delves into the complexities of the nation's economic practice.

Fouzul's account of the structural reforms that reshaped Bangladesh's economic trajectory under the stewardship of Finance Minister M. Saifur Rahman in the early 1990s stands out as an illuminating case study. The book also discusses the interplay between economists and politicians, and the influence of economics on politics.

The book is structured as a collection where readers can pause at any point and return to a new train of thought. Fouzul uses a metaphor of the left hand, the right hand, and a third, elusive hand (pretext) to describe a culture of impunity in Bangladesh. He warns against an overreliance on direct financial support for businesses and urges attention to correcting underlying policy distortions.

The book also touches on a variety of issues, including inflation, boycotts, banking quandaries, global economic pulse, India and Pakistan's fortunes, onion price surges, and the renewable energy sector. Fouzul's examination of the landscape of economic practice traces its contours through legal frameworks, social structures, competition, public goods, justice, externalities, and stability.

In a significant development, policy support now includes a variety of interventions directly affecting business cash flows. These measures range from tax concessions, rate cuts, loan restructuring, and cash subsidies. However, the business community endorses policy support but consistently opts for immediate policy tweaks, despite verbal endorsements of politico structural reform.

Fouzul advocates for a stronger emphasis on the "dan hat" (right hand), symbolizing rectitude, in Bangladesh's economic and political arenas. This call to action is particularly relevant given the prevailing inclination in the nation's economic and political arenas to invoke the invisible "third hand"-the hand of pretext-to rationalize mischief and sideline the virtues of the right.

M. Fouzul Kabir Kabir, a distinguished member of Bangladesh's council of advisers, prefers not to use the "Dr." prefix in economics. His most recent book, "The Art of Regional Peacebuilding", published by various Bangladeshi authors, further underscores his commitment to understanding and shaping the complexities of regional politics and economics.

In a fascinating anecdote, a simple query about Fouzul's silence on the marginal income tax rate prompted a response whose detail ultimately reversed Minister Saifur Rahman's initial decision. This incident highlights the profound impact that Fouzul's insights can have on policy-making.

Editor of the Prothom Alo, Matiur Rahman, has reserved an advance-if yet unfunded-reservation for Fouzul's forthcoming memoir on his tenure as a member of the interim government and his stewardship of three ministries. This forthcoming work promises to be another valuable addition to Fouzul's body of work, providing insights into his experiences and perspectives on Bangladesh's political and economic journey.

Initiatives aimed at expediting export deliveries, speeding up access to utilities, or expanding digital bandwidth are relegated to the realm of "structural reforms". Fouzul's book underscores the importance of addressing these long-term issues, in addition to immediate policy adjustments, for sustainable economic growth.

In conclusion, Fouzul Kabir's latest book offers a comprehensive and thought-provoking analysis of Bangladesh's politico economy. It is a must-read for anyone interested in understanding the complexities of the nation's economic landscape and the role of policy in shaping its future.

Exploring M. Fouzul Kabir Khan's new publication: 'Bangladesh's Political Economy' – an analysis of the nation's economic and political landscape