A Colonial Economy In Crisis

The book challenges the orthodox argument that rural populations which abandoned self-sufficiency to become single commodity producers, and were supposedly very vulnerable to the commodity price collapse of the 1930s Depression, did not suffer as much as has been supposed. It shows how the effects of the depression were complicated, varying between regions, between different kinds of economic actors, and over time, and shows how the 'victims' of the depression were not passive, working imaginatively to mitigate their circumstances.

The history of capitalism in Egypt has long been synonymous with cotton cultivation and dependent development. From this perspective, the British occupation of 1882 merely sealed the country's fate as a vast plantation for European textile mills. All but obscured in such accounts, however, is Egypt's emergence as a colonial laboratory for financial investment and experimentation. Egypt's Occupation tells for the first time the story of that financial expansion and the devastating crises that followed. Aaron Jakes offers a sweeping reinterpretation of both the historical geography of capitalism in Egypt and the role of political-economic thought in the struggles that raged over the occupation. He traces the complex ramifications and the contested legacy of colonial economism, the animating theory of British imperial rule that held Egyptians to be capable of only a recognition of their own bare economic interests. Even as British officials claimed that "economic development" and the multiplication of new financial institutions would be crucial to the political legitimacy of the occupation, Egypt's early nationalists elaborated their own critical accounts of boom and bust. As Jakes shows, these Egyptian thinkers offered a set of sophisticated and troubling meditations on the deeper contradictions of capitalism and the very meaning of freedom in a capitalist world.

This book illuminates the answers to various major questions on African development related to international trade and finance. It explores the economic interaction between Africa and the now-developed countries (the West) in the past and China today, as well as the legacy of these interactions for Africa’s growth and poverty reduction effort today. In addition, it discusses the implication of this legacy for Africa’s future development, and considers whether lessons can be drawn from this experience in terms of the continent’s future development? By providing in-depth historical and economic analysis conducted in non-technical terms, the book represents a valuable resource for policy makers, researchers, and students, as well as international organizations that focus on African development.

The book challenges the orthodox argument that rural populations which abandoned self-sufficiency to become single commodity producers, and were supposedly very vulnerable to the commodity price collapse of the 1930s Depression, did not suffer as much as has been supposed. It shows how the effects of the depression were complicated, varying between regions, between different kinds of economic actors, and over time, and shows how the 'victims' of the depression were not passive, working imaginatively to mitigate their circumstances.

This book aims to give a complete description of the impact of the Great Depression on the Madras Presidency, by using the techniques of both a historian and an economist. Manikumar's multidisciplinary approach provides a fresh perspective on the political, economic and social conditions of the Presidency in the 1930s. The major areas covered are: Madras's economy before the Depression, particularly the state of the export-dependant agricultural sector; the rise of indebtedness among the peasants; the varied effects on industrial sectors; the economic policies of the colonial government, which worsened the degree of debt; and the social and political effects of the Depression, including the Indian National Congress's increased political influence.

The contributors not only study state breakdown but compare the consequences of post-communism with those of post-colonialism.