'Progressive capitalism'

That Business Recorder op-ed writer, M Ziauddin, is a very well read person is a fact. He, for example, always comes up with arguments for which he often cites the works of global writers. In his latest contribution for the newspaper titled "Progressive capitalism" he argued, among other things, that "It is not Pakistan alone which needs to look for a new alternative economic system. In fact, even the champions of the so-called free world's current economic system suffering seem to be seeking an alternative because the one in vogue has failed miserably to deliver an equitable economic order."
The writer, however, seems to have ignored a key fact about Pakistan's economy - external sector woes - because of which the country has literally mortgaged its economic sovereignty to the International Monetary Fund (IMF). Will the global lending agency allow Pakistan to discover for itself an alternative system now, or even later?