Keynes : "It is better that a man should tyrannise over his bank balance than over his fellow-citizens; and whilst the former is sometimes denounced as being but a means to the latter, sometimes at least it is an alternative." I thought that they go together from my observations of village landlords. The quote via Brad DeLong Jm Keynes:Concluding notes on the general philosophy towards which the general theory might lead.
Dietz Vollrath:"My mental null hypothesis here is that higher agricultural productivity, because of low income elasticities for food, means more industrialization/urbanization/non-ag production." This does not jell with my experience of Guntur, Krishna districts. The excess seems to have gone to Madras first and then Hyderabad. From Do agricultural conditions matter for institutions?
Dietz Vollrath:"My mental null hypothesis here is that higher agricultural productivity, because of low income elasticities for food, means more industrialization/urbanization/non-ag production." This does not jell with my experience of Guntur, Krishna districts. The excess seems to have gone to Madras first and then Hyderabad. From Do agricultural conditions matter for institutions?
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