Nepal, Oct. 28 -- What kept Nepal poor and how can we become a wealth-creating nation?

Milan Jung Katwal

Nepal has never been a wealthy nation. I often ponder on what kept us poor; if we can ever be rich, and if so, then how? The most obvious reasons for our economic backwardness include the limitations of geography, such as small territory, mountainous topography, and landlockedness. The narrative is comforting as it makes poverty feel inevitable. But in my view, the excuse is as dishonest as incomplete. I believe that we have been a victim of poor policy choices, heavy state control, and politicized redistribution that have stifled the very forces that yield prosperity elsewhere: private enterprise, capital formation, and competitive ...