Credit Markets And The Agrarian Economy Of Colonial India

In nationalist discourse, indebtedness was evidence of peasant impoverishment caused by high levels of state revenue demand. Twentieth-century British officials inverted the poverty thesis: it was not poverty but prosperity - the increased power to borrow - that led to the accumulating volume of debt.

The majority of workers in South Asia are employed in industries that rely on manual labour and craft skills. Some of these industries have existed for centuries and survived great changes in consumption and technology over the last 150 years. In earlier studies, historians of the region focused on mechanized rather than craft industries, arguing that traditional manufacturing was destroyed or devitalized during the colonial period, and that modern industry is substantially different. Exploring new material from research into five traditional industries, Tirthankar Roy s book contests these notions, demonstrating that while traditional industry did evolve during the Industrial Revolution, these transformations had a positive rather than destructive effect on manufacturing generally. In fact, the book suggests, the major industries in post-independence India were shaped by such transformations. Tirthankar Roy s book offers new and penetrating insights into India s economic and social history.

This book looks at agriculture, development, poverty and British rule in India, especially in the Patna Division in Bihar between c.1870–1920. It traces the economic influence of British policies and maps the impact of legal, administrative and scientific interventions to rural conditions and norms in the state. The book discusses British theories and policies of ‘improvement’, comparing them with Bihar’s agricultural practice and socio-economic conditions to draw conclusions about rural impoverishment. Following on from his earlier book, Ancient Rights and Future Comfort on the Bengal Tenancy Act of 1885, the author also presents case studies on famines, debts, canal and village irrigation, flood-protection and the cultivation and production of indigo, opium and sugar. He analyses extensive archival material to reflect on property law, scientific interventions, cropping patterns, trade and intermediaries. He examines the economic role of governments, Eurocentric development theories and the complex impact of development policy on agriculture and society in Bihar. The book will be of interest to academics and students of colonial history, modern Indian history, agrarian studies, economic history, sociology, and development studies. It will also be useful to development practitioners and researchers working on the history of agrarian conditions and public policy.

This book challenges the static, ahistorical models on which Economics continues to rely. These models presume that markets operate on a "frictionless" plane where abstract forces play out independent of their institutional and spatial contexts, and of the influences of the past. In reality, at any point in time exogenous factors are themselves outcomes of complex historical processes. They are shaped by institutional and spatial contexts, which are "carriers of history," including past economic dynamics and market outcomes. To examine the connections between gradual, evolutionary change and more dramatic, revolutionary shifts the text takes on a wide array of historically salient economic questions—ranging from how formative, European encounters reconfigured the political economies of indigenous populations in Africa, the Americas, and Australia to how the rise and fall of the New Deal order reconfigured labor market institutions and outcomes in the twentieth century United States. These explorations are joined by a common focus on formative institutions, spatial structures, and market processes. Through historically informed economic analyses, contributors recognize the myriad interdependencies among these three frames, as well as their distinct logics and temporal rhythms.

Examining a series of El Niño-induced droughts and the famines that they spawned around the globe in the last third of the 19th century, Mike Davis discloses the intimate, baleful relationship between imperial arrogance and natural incident that combined to produce some of the worst tragedies in human history. Late Victorian Holocausts focuses on three zones of drought and subsequent famine: India, Northern China; and Northeastern Brazil. All were affected by the same global climatic factors that caused massive crop failures, and all experienced brutal famines that decimated local populations. But the effects of drought were magnified in each case because of singularly destructive policies promulgated by different ruling elites. Davis argues that the seeds of underdevelopment in what later became known as the Third World were sown in this era of High Imperialism, as the price for capitalist modernization was paid in the currency of millions of peasants' lives.

The great majority of the population in colonial and postcolonial India lived in the countryside and were poor. Many were unable to find gainful work outside agriculture and remained dependent on a livelihood that provided only subsistence, and a precarious one. Seeking the roots of persistent poverty, Maanik Nath finds that the pervasive high cost and shortage of capital affected the peasant's ability to invest in land. The productivity of land, as a result, remained small and changed little. Bridging economic theory and historical evidence, Capital Shortage shows that climate, law, policy design, and interactions between these factors, perpetuated a stubborn cycle of low investment and widespread deprivation over several decades. These findings can be tested against credit and development in preceding and succeeding periods as well as positioned in comparative global context.

From the end of the eighteenth century, two distinct global processes began to transform livelihoods and living conditions in the South Asia region. These were the rise of British colonial rule and globalization, that is, the integration of the region in the emerging world markets for goods, capital, and labour services. Two hundred years later, India was the home to many of the world's poorest people as well as one of the fastest growing market economies in the world. Does a study of the past help to explain the paradox of growth amidst poverty? The Economic History of India: 1857–2010 claims that the roots of this paradox go back to India's colonial past, when internal factors like geography and external forces like globalization and imperial rule created prosperity in some areas and poverty in others. Looking at the recent scholarship in this area, this revised edition covers new subjects like environment and princely states. The author sets out the key questions that a study of long-run economic change in India should begin with and shows how historians have answered these questions and where the gaps remain.

Addressing an important gap in the historiography of modern Assam, this book traces the relatively unexplored but profound transformations in the agrarian landscape of late- and post-colonial Assam that were instrumental in the making of modern Assamese peasantry and rural politics. It discusses the changing relations between various sections of peasantry, state, landed gentry, and politics of different ideological hues — nationalist, communist and socialist — and shows how a primarily agrarian question concerning peasantry came to occupy the centre stage in the nationalist politics of the state. It will especially interest scholars of history, agrarian and peasant studies, sociology, and contemporary politics, as also those concerned with Northeast India.