KARACHI:
A human economy places people at the core of economic growth, recognising that the true wealth of a nation lies in its human capital. Unlike traditional economic models that prioritise financial capital, the human economy focuses on enhancing the abilities, well-being and potential of individuals. In this model, wealth is not measured by the accumulation of money or resources but by the capacity to meet human needs. When people’s abilities are maximised, they become the driving force behind sustainable economic progress.
In today’s world of constant disruption, resilient people are required in order to create resilient economies. The threat on instability was clearly demonstrated in 2021 when 40% of the global workforce left their jobs during what is now known as the “Great Resignation.” The mass exodus from jobs signified a deeper demand for flexibility and work-life balance. Workers no longer wish to be cogs in the industrial machine. They want careers that align with their values and allow them to thrive both professionally and personally. In a human economy, these factors are prioritized over mere profitability.
For Pakistan to succeed in this new global economic landscape, it must shift its focus toward developing human capacities that cannot be replaced by machines. AI and other technological advancements are rapidly changing the job market. Pakistan cannot fall behind and risk loosing sway in the international market.
Sameer Shoukat
Lasbela
