Princeton professor and renowned economist Atif Mian has said that increasing borrowing for housing purposes is not a good strategy. In fact, it has never been successful. If this is true, then this means that the State Bank of Pakistan’s Markup Subsidy for Housing Finance scheme will fail, eventually. The Pakistani-American economist, while speaking at Oxford Economics Society’s online event titled Extreme Inequality, Indebted Demand and Threats to our Economic Well-Being on Tuesday, argued that the top 1% of the world’s population tends to save a much higher fraction of their income, but that doesn’t necessarily translate into investment. This surplus capital is then absorbe...