Private Sector’s Productivity

Abstract

Dr. M. Azizur Rahman analyzes the comparative advantages of the private sector in driving national economic development. The author argues that private organizations operate under strict rules, discipline, and accountability, which eliminates political interference and "unnecessary clash" often found in public institutions. Central to this discussion is the "invisible hand" theory of Adam Smith, where individual self-interest and risk-taking lead to broader social benefits. The article highlights that private sector success is built on professional management, skilled labor, and performance-based incentives. Ultimately, the author concludes that increasing national income and reducing poverty depend on the productivity of the private sector, which fosters a high-quality living environment through industrialization and efficient resource management.