Robert W. Fogel, the 1993 Nobel Prize Laureate for Economics, through his work on “efficiency wages”, pointed out that hungry and undernourished workers are not as productive as well fed and healthy workers. At the level of an individual firm, it would thus make sense for an employer to pay wages that are high enough to allow workers access to food and other necessities – even if such wages are higher than the going market rate
The new government in Pakistan has now been in office for over 100 days and has started work on its reform and socio-economic agenda. There is a growing realization that being in government is far more difficult than it first appeared, and that in order to move forward there is an urgent need to build national and international partnerships.
Despite the fact that Pakistan’s industrial and services sector continue to grow in importance, what happens in the agriculture sector remains critical to the performance of Pakistan’s economy and the wellbeing of its people.