Comments on: Keynes in Jodhpur? In 1929? (Picked from KBC-6….)

By: Amol Agrawal

Amol Agrawal — Sat, 15 Sep 2012 12:52:05 +0000

Thanks Rajiv for this…I actually realised Keynesian approach should have been present in earlier such constructs as well. This calls for some historic research figuring how many such places were built on Keynes ideas (before Keynes though) and history around them. Will be an interesting area of debate..I always thought Keynes idea of govt intervention in a crisis is a natural reaction. What will a govt do when a crisis hits? Sit back and tell people sorry we will let markets correct themselves!!

By: Kuldeep kumar

Kuldeep kumar — Fri, 14 Sep 2012 16:33:08 +0000

Very goodddddddd.

By: Rajiv K Raman

Rajiv K Raman — Fri, 14 Sep 2012 04:15:59 +0000

Was not the Bara Imambara at Lucknow a similar relief exercise. excerpt from wikipedia (http://en.wikipedia.org/wiki/Bara_Imambara) – “The Bara Imambara was built in 1783, a year of a devastating famine, and one of Asaf-ud-Daula’s objectives in embarking on this grandiose project was to provide employment for people in the region. According to reports, the famine continued for over a decade and the construction of the building continued for this time. It is said that ordinary people used to work in the day building up the edifice, while noblemen and other elite were called at night to break down all the structure raised, as they were incapable of doing anything else, according to a chronicle of the period. This see-saw efforts continued till the famine period was over. It was a project that preceded a Keynesian like intervention for employment generation.”

Rajiv

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Mon, 10 Sep 2012 17:17:08 +0000

[...] Keynes in Jodhpur? In 1929? (Picked from KBC-6….) (mostlyeconomics.wordpress.com) [...]

By: Amol Agrawal

Amol Agrawal — Mon, 10 Sep 2012 16:20:03 +0000

I am not really sure Prof Lingle. Maharajas and their team were typically just like governments. Yes it was a much smaller experiment compared to what Keynes had in mind, but was an experiment nevertheless. Now I do not know whether that experiment was successful as I doubt think there is any empirical study. I just thought this showed that Keynes ideas were applied even before his book came out. It looked like a natural thing to do given the shock…

By: Christopher Lingle

Christopher Lingle — Mon, 10 Sep 2012 12:46:11 +0000

the connection with Keynesian theory is stretched…the building in question was done under the aegis of privately-owned government whereas Keynes addressed spending under publicly-owned government…incentives here matter…the Maharaja was much more likely to insist on more efficiency & the work was not open-ended & there were no overly-generous pensions that usually arise from public-sector employment

By: nshantin

nshantin — Sun, 09 Sep 2012 16:28:22 +0000

Ah, u have an ability to view matters from different angles, and than write an informative article on them.

Keep it up, will keep coming back for more articles

Safe ePayments Motivator

By: Lokesh

Lokesh — Sat, 08 Sep 2012 17:54:54 +0000

Today is nice game

By: Lokesh

Lokesh — Sat, 08 Sep 2012 17:53:20 +0000

Good

By: Neetika

Neetika — Sat, 08 Sep 2012 07:54:34 +0000

Brilliant take away from that seemingly simple question…Appreciate your ability to draw a linkage between the economics of Umaid bhavan construction and Keynes theory…