10-01-2005, 01:03 AM
Labor, Governance, and the Information Age
<!--QuoteBegin-->QUOTE<!--QuoteEBegin-->Before the British came, India was one of the richest countries in the world. When the British left in 1947, India was poor and industrially backward. Indian politicians blamed this on colonial exploitation. They claimed Britain had extracted large surpluses from India, and forced it into a free-trade pattern which obliged India to export commodities and become a dumping ground for British manufactures. Historians estimate that the net transfer of capital from India to Britain averaged 1.5 percent of GNP in the late nineteenth century. The wealth transfer was financed by a persistent trade surplus. Indiaâs export-import ratio was 172.5 percent in 1840-69, 148 percent in 1870-1912, and 133.4 percent in 1913-38. Indian politicians interpreted this to mean that export orientation was a tool of colonial exploitation, and free trade a British ploy to force its manufactures on India and crush domestic industry.
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Any links/reference to the wealth looted from India during the Brits rule? Dadabhai Naoroji had done some writings on this subject, can't seem to find it online.
<!--QuoteBegin-->QUOTE<!--QuoteEBegin-->Before the British came, India was one of the richest countries in the world. When the British left in 1947, India was poor and industrially backward. Indian politicians blamed this on colonial exploitation. They claimed Britain had extracted large surpluses from India, and forced it into a free-trade pattern which obliged India to export commodities and become a dumping ground for British manufactures. Historians estimate that the net transfer of capital from India to Britain averaged 1.5 percent of GNP in the late nineteenth century. The wealth transfer was financed by a persistent trade surplus. Indiaâs export-import ratio was 172.5 percent in 1840-69, 148 percent in 1870-1912, and 133.4 percent in 1913-38. Indian politicians interpreted this to mean that export orientation was a tool of colonial exploitation, and free trade a British ploy to force its manufactures on India and crush domestic industry.
<!--QuoteEnd--><!--QuoteEEnd-->
Any links/reference to the wealth looted from India during the Brits rule? Dadabhai Naoroji had done some writings on this subject, can't seem to find it online.