Vol. 11(4), pp. 111-114, September 2023 , 2023.

ISSN: 2384-6151

https://doi.org/10.14662/ijebm2023125

 

 

Full Length Research

 

Significance of Keynesian multiplier and Values of ethics: Idea of Prof. V.K.R.V. Rao

 

Sutapa Malakar

 

Research Scholar, Gokhale Institute of Politics and Economics, Pune, Email ID: sutapa.malakar@gipe.ac.in  

 

 

 

Accepted 18 September 2023

Abstract

 

Prof.V.K.R.V. Rao was a great economist among the contemporary Indian economists. Prof. Rao is one of the foremost Indian economists who was also a policy maker. He wrote extensively on national income, keynesian multiplier, and related topics apart from other fields. Prof. Rao said that Keynes did not consider the problem of underdeveloped countries like India where disguised unemployment (not aware that they are unemployed) is the main problem. His contributions are remarkable and still relevant in today’s world. His idea on social values and ethics are also important. He highlighted human values and ethics in the economic discipline. Economic philosophy of V.K.R.V. Rao inspired all. Prof. Rao was a democratic socialist. Equity and social justice were the right objective of him. This present paper attempts to examine his contributions to the applicability of Keynesian multiplier in underdeveloped economy like India and also the importance of values and ethics in a person’s life and also the implications in social aspects.

 

Keywords: Keynesian multiplier, social values, ethics, underdeveloped economy

 

Cite This Article As: Malakar, S. (2023). Significance of Keynesian multiplier and Values of ethics: Idea of Prof. V.K.R.V. Rao. Inter. J. Econ. Bus. Manage. Vol. 11(4), pp. 111- 114, September 2023