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The first major study of the relationship between labour and capital in India's economic development in the early twentieth-century. The author considers the spread of capitalism and the growth of the cotton textile industry.
In recent decades, private investment has led to an economic resurgence in India. But this is not the first time the region has witnessed impressive business growth. There have been many similar stories over the past 300 years. India's economic history shows that capital was relatively expensive. How, then, did capitalism flourish in the region? How did companies and entrepreneurs deal with the shortage of key resources? Has there been a common pattern in responses to these issues over the centuries? Through detailed case studies of firms, entrepreneurs, and business commodities, Tirthankar Roy answers these questions. Roy bridges the approaches of business and economic history, illustrating the development of a distinctive regional capitalism. On each occasion of growth, connections with the global economy helped firms and entrepreneurs better manage risks. Making these deep connections between India's economic past and present shows why history matters in its remaking of capitalism today.
A history of capitalism in nineteenth‑ and twentieth‑century China and India that explores the competition between their tea industries “Tea War is not only a detailed comparative history of the transformation of tea production in the 19th and early 20th centuries, but it also intervenes in larger debates about the nature of capitalism, global modernity, and global history.”— Alexander F. Day, Occidental College Tea remains the world’s most popular commercial drink today, and at the turn of the twentieth century, it represented the largest export industry of both China and colonial India. In analyzing the global competition between Chinese and Indian tea, Andrew B. Liu challenges past economic histories premised on the technical “divergence” between the West and the Rest, arguing instead that seemingly traditional technologies and practices were central to modern capital accumulation across Asia. He shows how competitive pressures compelled Chinese merchants to adopt abstract industrial conceptions of time, while colonial planters in India pushed for labor indenture laws to support factory-style tea plantations. Characterizations of China and India as premodern backwaters, he explains, were themselves the historical result of new notions of political economy adopted by Chinese and Indian nationalists, who discovered that these abstract ideas corresponded to concrete social changes in their local surroundings. Together, these stories point toward a more flexible and globally oriented conceptualization of the history of capitalism in China and India.
A history of artisan production in colonial and post-independence India, and its role in the country's society and economics.
It?s no secret that certain social groups have predominated India?s business and trading history, with business traditionally being the preserve of particular `Bania? communities. However, the past four or so decades have seen a widening of the social base of Indian capital, such that the social profile of Indian business has expanded beyond recognition, and entrepreneurship and commerce in India are no longer the exclusive bastion of the old mercantile castes. In this meticulously researched book ? acclaimed for being the first social history to document and understand India?s new entrepreneurial groups ? Harish Damodaran looks to answer who the new `wealth creators? are, as he traces the transitional entry of India?s middle and lower peasant castes into the business world. Combining analytical rigour with journalistic flair, India?s New Capitalists is an essential read for anyone seeking to understand the culture and evolution of business in contemporary South Asia.
This book argues that we are undergoing a transition from industrial capitalism to a new form of capitalism - what the author calls & lsquo; cognitive capitalism & rsquo;
The rise of capitalism to global dominance is still largely associated – by both laypeople and Marxist historians – with the industrial capitalism that made its decisive breakthrough in 18th century Britain. Jairus Banaji’s new work reaches back centuries and traverses vast distances to argue that this leap was preceded by a long era of distinct “commercial capitalism”, which reorganised labor and production on a world scale to a degree hitherto rarely appreciated. Rather than a picture centred solely on Europe, we enter a diverse and vibrant world. Banaji reveals the cantons of Muslim merchants trading in Guangzhou since the eighth century, the 3,000 European traders recorded in Alexandria in 1216, the Genoese, Venetians and Spanish Jews battling for commercial dominance of Constantinople and later Istanbul. We are left with a rich and global portrait of a world constantly in motion, tied together and increasingly dominated by a pre-industrial capitalism. The rise of Europe to world domination, in this view, has nothing to do with any unique genius, but rather a distinct fusion of commercial capitalism with state power.
WINNER OF THE BANCROFT PRIZE • A Pulitzer Prize finalist that's as unsettling as it is enlightening: a book that brilliantly weaves together the story of cotton with how the present global world came to exist. “Masterly … An astonishing achievement.” —The New York Times The empire of cotton was, from the beginning, a fulcrum of constant global struggle between slaves and planters, merchants and statesmen, workers and factory owners. Sven Beckert makes clear how these forces ushered in the world of modern capitalism, including the vast wealth and disturbing inequalities that are with us today. In a remarkably brief period, European entrepreneurs and powerful politicians recast the world’s most significant manufacturing industry, combining imperial expansion and slave labor with new machines and wage workers to make and remake global capitalism.
Lost Glory: India's Capitalism Story deconstructs India's industrialization story, challenging contemporary ideas about her economy. Based on careful and detailed empirical analyses of India's industrialization, for a period of almost seven decades, the book provides deeply-nuanced depictions of the history of political economy, that have affected India's industrialization over the course of a century. These dimensions of India's economic history have never before been collated and presented. The presentation takes readers on a definitive evidence-based survey of India's industrial landscape. It includes a detailed historical description of the intellectual origins of India's modern industrialization, anchored in a privileged view of economic policy making. Grounded in deep historical and political analyses, that account for the variations, continuities, and changes in institutional contingencies, the facts derived on India's long-term economic performance are used to put the record straight. The findings of the book will transform debate, and set the agenda for thoughtfully assessing what course the Indian economy needs to follow.
This book presents a comprehensive history of handloom weaving industry in India to challenge and revise the view that competition from machine-produced textiles destroyed the country’s handicrafts as claimed by historians until recently. It shows that skill-intensive handmade textiles survived the competition on a large scale, and that handmade goods and high-quality manual labour played a positive role in the making of modern India. Rich in archival material, The Crafts and Capitalism explores themes such as the historiography of craft technologies; statistical work on nineteenth-century cotton cloth production trends; narratives of merchants, the social leaders, the factory-owners; tools and techniques; and, shift from handloom to power loom. The book argues that changes in the handloom industry were central to the consolidation of new forms of capitalism in India. An important intervention in Indian economic history, this book will be useful to scholars and researchers of Indian history, economic history, colonial history, modern history, political history, labour history and political economy. It will also interest nongovernmental organizations, textile historians, and design specialists.