Professor Rehman Sobhan, Chairman of the Centre for Policy Dialogue (CPD) and a prominent economist, has stated that reforms have taken place, but inequality has increased.
Meanwhile, Dr Wahiduddin Mahmud, Planning Adviser to the interim government and a distinguished economist, said that Bangladesh still lacks a sustainable and accountable governance system. According to him, “Even after half a century of independence, we have yet to establish a political framework that truly represents the people. As a result, the country’s current goal is limited—to transition to a democratic society that is accountable and sustainable.”
They made these remarks yesterday (7 October) at a seminar organised by the Bangladesh Institute of Development Studies (BIDS) in Agargaon, Dhaka. The seminar’s discussion focused on the book Apostles of Development: Six Economists and the World They Made by Professor David C. Engerman of Yale University, which highlights the thoughts of six influential economists from South Asia.
In his keynote speech, Dr. Wahiduddin Mahmud said, “Democracy is meaningful only when it is accountable and participatory. Sustainable development is impossible without an independent judiciary, a strong parliament, and effective state institutions.”
He further noted, “Justice cannot be ensured in society unless a balance is maintained between political power and economic power. We cannot exit the market system, but the state must ensure that this system safeguards fairness and social equity.”
Dr. Mahmud added, “Ideological divisions in Bangladesh are gradually disappearing. The distinctions between right and left are now almost meaningless. Politics has incorporated religious, social, and ethnic dimensions. Today, people want a society where inequality is reduced, individuals are respected, and the state ensures equal opportunities for all.”
At the seminar, Professor Rehman Sobhan said, “Nowhere in South Asia we see genuine efforts to reduce inequality. Over the past 17 years, reforms have been implemented, yet income and wealth inequality have increased.”
He remarked, “We have achieved growth and reduced poverty, but at the same time, inequality in society has grown alarmingly. This inequality is not only economic—it also affects the political structure. The financial elite of society now control state power, weakening the foundation of democracy.”
Rehman Sobhan also stated, “Current policymakers limit their approach to inequality to poverty alleviation or social protection programs. But structural causes—such as unequal access to wealth, political influence, and limited opportunities for marginalized groups—remain unaddressed.”
He lamented, “Inequality between East Pakistan and West Pakistan arose due to state policies, not the market system. Therefore, state intervention was needed after independence. Yet even after all these years, we have not been able to eliminate that inequality.”
It is noteworthy that among the six South Asian economists, Bangladesh’s Rehman Sobhan, Pakistan’s Mahbub ul Haq, Sri Lanka’s Lal Jayawardena, and India’s Amartya Sen, Jagdish Bhagwati, and Manmohan Singh, educated at Cambridge University, have significantly influenced development theory in the developing world. The book Apostles of Development: Six Economists and the World They Made was written by Professor David C. Engerman of Yale University, who specializes in international history.
Other speakers at the event included BIDS former Director Binayak Sen, former Dhaka University Economics Professor M. M. Akash, and the book’s author David C. Engerman. Also present were CPD’s distinguished fellows Debapriya Bhattacharya, Mostafizur Rahman, and Executive Director Fahmida Khatun. The event was hosted by BIDS Director Professor A. K. Enamul Haque.
Bd-pratidin English/ ANI
