Hain Kawakab Kuch: Sarmaya darana falahi nizam - mafrooze aur haqaiq

Description

This book is a detailed critique of Welfare Capitalism. It explores the relationship between welfare and capitalism and argues that while welfare aims to alleviate the contradictions inherent to the capitalist system, it ultimately puts pressure on state resources and leads to fiscal crises worldwide. Through a historical analysis and examination of Pakistan's welfare regime, the book reveals the tension between 'Welfare' and 'Capitalism' and explains why the state continues to spend on welfare despite fiscal deficits. The book argues that welfare spending is massive in developed as well as developing countries, often consuming more than half, sometimes up to three-fourths, of annual public revenues. It is also argued that welfare expenditure is not exclusively for the poor, but it concerns all of us, as everyone is on welfare in some form. Additionally, it is argued that welfare expenditure does not represent a fair distribution of resources, as the upper quintile of the population does not contribute a larger share of public revenues than their share of total national income, resulting in a substantial part of welfare expenditure coming from taxes raised from the working class. Furthermore, the book argues that despite the working class's contribution to resources, welfare regimes are designed in a manner that disproportionately benefits the bourgeoisie. The bulk of the benefit from the increase in labour's productive capacity and reduction in the cost of their reproduction is absorbed by the capitalist class due to their class-based power. Such lopsided design of welfare regimes is not accidental, but a structural requirement of the capitalist system, as it manages surplus product and surplus population. In conclusion, the book suggests that a worker-friendly welfare regime will raise greater resources by taxing capital and capitalists and will be designed to use resources on workers' priorities. The author, an Associate Professor of Social Policy at the Lahore University of Management Sciences (LUMS) and the former Director of the Centre for Governance and Public Policy at LUMS, offers a nuanced and thought-provoking examination of the complexities of welfare capitalism and its impact on society.