Dar es Salaam, Aug. 26 -- IMAGINE a Tanzania where GDP has crossed the trillion-dollar mark, a society with modern cities, bustling industries and citizens enjoying higher incomes and better opportunities.

This vision is within reach, but heres the catch: The policies and institutions that guided us to this point will not carry us further. As our society becomes more urbanised, more literate and equipped with greater disposable income, the demands on government, businesses and institutions will intensify.

We will need to rethink how we manage growth, how we channel resources and how we uphold discipline and moral responsibility in the face of prosperity.

Why Pragmatism Matters

At our current stage of development, ambitious visions oft...