The Rel­a­tive Value of Dif­fer­ent Dy­nas­ties

The Economic Times - - Breaking Ideas -

The news this week that the ‘brand’ of the Bri­tish monar­chy is cur­rently val­ued at £57 bil­lion, up from £44 bil­lion at the time of Queen El­iz­a­beth II’s diamond ju­bilee in 2012, is not sur­pris­ing. Af­ter all, it is one of the prin­ci­pal at­trac­tions of the UK and con­trib­uted a net profit of £1.15 bil­lion for the UK econ­omy this year, cal­cu­lated by the in­come it gen­er­ated mi­nus the yearly govern­ment pay­out to main­tain se­nior roy­als. Ar­guably, if the roy­als are no longer trot­ted out on grand oc­ca­sions, the in­flow of tourism money — mostly dol­lars — would be con­sid­er­ably less. Even the visit of the Duke and Duchess of Cam­bridge to In­dia ear­lier this month has ap­par­ently re­sulted in a 25% uptick in book­ings for the com­ing tourism sea­son. That surely gives a purely com­mer­cial rea­son to keep the House of Wind­sor go­ing. If a monar­chy is worth that much even in th­ese egal­i­tar­ian times, it may be ed­uca­tive to also as­sess the prom­i­nent non­royal dy­nas­ties around the world sim­i­larly. In In­dia, gaug­ing the rel­a­tive val­ues of two un­re­lated dy­nas­tic brands with the same name — Gandhi — could be par­tic­u­larly in­struc­tive. While one un­der­goes pe­ri­odic fluc­tu­a­tions in value, usu­ally ev­i­dent dur­ing gen­eral elec­tions, stake­hold­ers of the other Gandhi brand face a pe­cu­liar prob­lem: its brand value keeps ris­ing, but the abil­ity of any­one to cash in on that ap­peal keeps go­ing down. Some in­di­vid­u­als, it would ap­pear, are in a league way be­yond mere monar­chy.

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