Path to prosperity

Path to prosperityThe path to prosperity for Nepal is to ensure genuinely inclusive political and economic institutions. At no point in Nepal’s history since its unification has there been truly inclusive political and economic institution that could create and promote the necessary base for a majority of people to increase wealth and income.

Equally importantly, there has never been sustainability of reformed institutions, however inclusive they were. Under inclusive economic institutions, wealth is not concentrated in the hands of a few elites as a broad range of people from different creeds, ethnicities and backgrounds could participate to better their lives, and boost wealth and income based on the returns to investment in whatever activity they engage in.

Under inclusive political institutions, power is distributed widely in a pluralistic manner, but it is also centralized to some degree to maintain law and order. Simultaneously, the foundations for secure property rights are distinctly laid out and inclusive market economy guaranteed.