MD. HOSSAIN ALI

Why nationalization strategies adopted by the government of Bangladesh backfired and privatization subsequently replaced it? After Bangladesh evolved as an independent state in December 1971, many of the West Pakistani private entrepreneurs and managers (who were at the helm of both public and private enterprises in then the East Pakistan) fled the country. It left a huge vacuum in the corporate sector.  With the birth of B angladesh, there was a clear shift in economic and social policies, and thus almost all of the large private enterprises were nationalized to promote the new government’s core principle of socialism . The management of nationalized enterprises were mostly entrusted to politicians having any previous administrative and management skills and experience. There were complaints against the new managers that many of  them used to sell out machines and smuggle the raw materials. Consequently many factories were closed due to ineffective administration or lack...

What do you mean by economic development? Can Gross Domestic Product (GDP) reflect the reality of an economy? Explain. Economic Development "What is the meaning of growth if it is not translated into the lives of people?" - UNDP Human Development Report 1995  "Development can be seen ….. as a process of expanding the real freedoms that people enjoy." - Amartya Sen, Nobel Laureate in Economics "Our primary goal in development must be reduce the disparities across and within countries….. The key development challenge of our time is the challenges of inclusion." - James D. Wolfensohn, Former President, World Bank  GDP as a Measure of Economic Development GDP was first developed during great depression of 1930s. However, by 1960s  majority of the economists have agreed that GDP is not self-sufficient indicator i.e. it is not an adequate measure of the economic progress of a nation.  GDP does not consider actual mental well being and  and conditions of  physica...

Describe the Impact of the British rule in economic fate of Bengal. Fraudulent Trading Practices and Monopolization of Internal Trade The English were given some special tax benefits ("dastaks*") in terms of import and export trade i.e. they enjoyed concessionary tariff in foreign trade. However, they abused that facility and used that in internal trade fraudulently. As a result, the English and some native traders (who purchased "dastaks" from the English to avoid tax in internal trade) could amass huge amount of money at the cost of the nawabs` reduced revenue and  damaged livelihood of other native traders. Moreover, the servants of the East India Company oppressed the native merchants which also severely damaged internal trade. They and their  allied local merchants used to compel other native traders to buy (sell) goods at significantly high (low) prices.    Such evidence can be found in a letter written by Mir Qasim to the company's governor to draw attent...

Discuss about the economic benefits the British realized from the political power of state of Bengal. British troops, led by Robert Clive, along with their local allies defeated the then  Nawab,  Siraj Ud Daulah,  on 23 June 1757 at the  Battle of Plassey  as the Nawab's soldiers betrayed him  ( How East India Company's Rule over Bengal Benefited Britain ).  As the British got colonial control over Bengal they plundered capital from there and invested the resources in various industries e.g. textile manufacturing in Britain.  This  significantly   contributed to initial stages of Industrial Revolution in Britain.  It indirectly led to deindustrialization of traditional textile manufacturing in Bengal while boosting British wealth.  First, by defeating their rivals  and forcefully acquiring them at low prices,  they monopolized the sale of raw materials. While local weavers had to pay very high prices for those raw m...

The Language Movement The language movement is a very significant event in the history of Bangladesh. It is actually a series of events regarding the issue of what would be the status of Bangla/Bengali language in the newly formed Pakistan in 1947. How language movement paved the way to the independence of Bangladesh? The movement played a great role in subsequent independence of Bangladesh in 1971 in a number of ways. First, The language issue had huge economic implications for Bengalis ( See the related article on BBC Bangla ). If only Urdu was made the national language of Pakistan, the Bengalis of East Pakistan would lag behind in terms of government jobs in different sectors including defense forces. The Bengali Muslims supported the cause of Pakistan for their economic freedom and development. The insistence of Urdu by the rulers disappointed the Bengali people from the very outset. The culturally oppressive decision by the central government led to form and strengthen the langua...

Image Source: Internet What is self-help book? Wikipedia defines self-help book as " A  self - help book  is one that is written with the intention to instruct its readers on solving personal problems"( see the Wikipedia entry on self-help book ).  The  books have  taken their name from  Self - Help , an 1859 best-seller by Samuel Smiles. Such books are also known and classified as " self - improvement " which is a term that is a modernized version of  self - help . For example, self-help books cover personal productivity/time management, guidance on relationship/marriage, principles for personal/career success, management of personal life (goal setting etc.), religiosity and  many more. There are large number of (thousands or even lakhs of such books) published self-help titles on different topics/themes.  What self-help book should you read? You should choose self-help books for your reading in following ways!  First, you can select re...