Pakistan, May 16 -- Pakistan's latest growth readings should not be received with cynicism, because a country that has only recently crawled away from default cannot afford to sneer at recovery. Nor should they be received with applause. A 3.7 per cent expansion, against a higher target, says the patient is breathing again, not that the illness has passed. The economy has crossed $452bn, and per capita income has risen to $1,901, while agriculture, industry and services have all posted positive growth. However, like it or not, a poor man does not feel richer because a table says he lives inside a larger economy.

The real question is harsher: what kind of economy has Pakistan chosen to protect? In every crisis, the answer returns with emb...