Mayawati's tryst with Keynesian economics
In Uttar Pradesh, the most populous state in India, one lady is engaged in the remarkable task of applying Keynesian economics to revive her state's economy. That is none other than Mayawati, the most charismatic person in India after sam anderson!
According to John Maynard Keynes, during a recession the government has to stimulate demand by enacting public spending projects that would increase employment and also reduce taxation to encourage people to spend more.
That's where Mayawati comes in. She has embarked on one of UP's largest public spending exercises in recent times: erecting about 40 statues, including 6 of herself(not to be confused with the statues of the party symbol;the elephant). She believes investing about 10000 crores in such projects(including parks and memorials) will help the economy grow by providing employment to thousands of people. Also by merely looking at these statues, the dalits will become inspired and empowered and educate themselves and come out of poverty.
She is believed to have got this radical idea from none other than renowned economist and visionary Arindham Chaudhary.In fact rumor has it that most of the IIPM students who are not placed are working on her statues!
However it seems one just can't please everybody. According to the opposition, erecting statues of oneself is a foolish thing to do since according to Indian tradition, statues are erected only in honour of the dead. Then again one can't really blame her. She is forced to erect statues of herself since no one else will do any such thing after her time!
