Growing Economies: An Overview
February 11th, 2008 | by Qurratulain |With the rapid growth of world’s population the economies took a quick boost, focusing more on increased production in order to maintain the increased demand. The equilibrium in demand and supply has, however, always been a burning question. Governments have been doing efforts along with private sector in developing countries. Taking Pakistan’s example where by the consumer financing have been given a boost, keeping the increased consumption a base for it. Credit card, car financing, house financing home appliance financing etc are the some of common examples in this regard.
These strategies, as they’ve helped the common man one hand, have also created a feeling of insecurity and restlessness in the society. For instance, now people with just a fair income do go for all these, crossing their budget line. And this is just to maintain the status.
Probably all the classes in the existing society have undergone this restlessness but the most influenced one is the middle class. There may be solutions for this mismanaged economy, but the rapid growth in the consumer financing, better say increase in the size of it, as there’s no strategic planning behind it, just cloud over these solutions.
It doesn’t mean that these facilities should not be the part of economy or society, but should be properly managed with the concerning government.
