The many-rajdhani route to riches

Andhra Pradesh shows the way as to how to capitalise on capital ideas.

BCCL
The YS Jagan Mohan Reddy government has now unveiled a proposal to have not just one capital but three, a legislative capital at Amaravati, an executive capital at Visakhapatnam, and a judicial capital at Kurnool.
Today’s Andhra Pradesh could teach Karl Marx a lesson or two on primitive capital accumulation. Having had to cede Hyderabad to the recently created Telangana, Andhra needed a new rajdhani.

Having initially cold-storaged former CM Chandrababu Naidu’s pet project of developing Amaravati, the YS Jagan Mohan Reddy government has now unveiled a proposal to have not just one capital but three, a legislative capital at Amaravati, an executive capital at Visakhapatnam, and a judicial capital at Kurnool.

Such a literal interpretation of the need to separate the branches of the state in a democratic polity would have got full Marx as a way of capital formation through the creation of multiple capitals.


Indeed, given the increasingly urgent need to provide a stimulus to a stubbornly sluggish national economy, other states might be motivated to follow Andhra Pradesh and infuse capital into the system by the multiplication of capitals.

Taking a leaf from the order book of the British Raj, which, in addition to shifting the capital from what was then Calcutta to create a new capital in New Delhi, also made what was then Simla into a summer capital, it could be mooted that apart from a summer capital and a winter capital, states could also have a spring capital and a monsoon capital.

Such a project could truly be called a venture capital scheme, to cap-it-all.
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What Capitalism Means To These Renowned Economists & Academicians
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A ready reckoner on four thinkers who, through their works, have infused fresh insights into money, markets and modern society.



Capitalism with a heart. Is that the new world order or just an enduring paradox? At a recent literature festival held in Mumbai, a panel comprising former Mckinsey & Co boss, Rajat Gupta, businessman Nadir Godrej and Arun Maira, a Tata Group alumnus, debated and discussed just that. During their conversation, they referenced thinkers and economists who have spent much time theorising the role of business in society. Here’s what these thinkers have said of capitalism in the past.

A ready reckoner on four thinkers who, through their works, have infused fresh insights into money, markets and modern society.Capitalism with a heart. Is that the new world order or just an enduring..
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This Harvard professor of political philosophy has been called the “most famous teacher of philosophy in the world”. Sandel has explored the impact of capitalism on the moral values of society. “Without being fully aware of the shift, Americans have drifted from having a market economy to becoming a market society ... where almost everything is up for sale,” Sandel has said. And in a world where everything is a commodity, inequality breeds fast. Life is harder for those of modest means.
This Harvard professor of political philosophy has been called the “most famous teacher of philosophy in the world”. Sandel has explored the impact of capitalism on the moral values of society. “With..
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This French economist has deliberated extensively on the subject of inequality. In his 2014 book Capital in the Twenty-First Century, Piketty warned that if the already rich were able to accumulate wealth faster than economies were able to grow, inequality would skyrocket in the coming decades, potentially destabilising societies in the process. Those starting off with millions in inheritance have a natural headstart on those earning their way up through jobs.
This French economist has deliberated extensively on the subject of inequality. In his 2014 book Capital in the Twenty-First Century, Piketty warned that if the already rich were able to accumulate w..
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He is considered to be the most prominent 20th century advocate of free markets. Friedman’s famous doctrine — “There is one and only one social responsibility of business — to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud” — is a hotly-debated subject in a world where corporate social responsibility or CSR is considered essential for businesses to actively give back to society.

(Photo from the Nobel Foundation archive)

He is considered to be the most prominent 20th century advocate of free markets. Friedman’s famous doctrine — “There is one and only one social responsibility of business — to use its resources and e..
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An American academic of repute, Porter differs from Friedman in his view of the role of business and has spoken of the need to rethink capitalism. In his view, the purpose of the corporation must be redefined as creating shared value, not just profit per se. This will drive the next wave of innovation and productivity growth in the global economy. It will also reshape capitalism and its relationship to society and legitimise business again as a powerful force for positive change.

(Image: www.isc.hbs.edu)
An American academic of repute, Porter differs from Friedman in his view of the role of business and has spoken of the need to rethink capitalism. In his view, the purpose of the corporation must be ..
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