Economies By Country

"And then, almost at the moment of partition, some people saw that there was a certain amount of money to be made out of the new state as well. All the land in the west—ancient and not-so-ancient seats of Hinduism and Buddhism and Sikhism—was finally going to lose, or be cleansed of, its Hindu and Sikh populations. They would leave and go to India. As communities, the Hindus and Sikhs were rich; it was said that they owned 40 percent of the wealth of the region. When they left, many debts were wiped out; and all over Pakistan, in villages and towns large and small, an enormous amount of property needed new owners. Fortunes were made or added to overnight. So at the very beginning the new religious state was touched by the old idea of plunder. The idea of the state as God was modified."

"Everybody wants to see the economy improve, but more importantly, everybody wants to feel that improvement in their day-to-day lives."

"There is no doubt in my mind that India is one of the great financial success stories of the future. The curse of India is that Indians lack pride in being Indian. The moment they have that pride, India will be the next Japan."

"It is almost a cliché to describe India as rich in institutional infrastructure and poor in physical infrastructure."

"India's bane is the profesional 'povertywallas': the politicians who have incessantly mouthed slogans such as 'garibi hathao' … and the economists who write continually about 'abysmal poverty'. Both have generally espoused policies, such as defending public sector enterprises at any cost, discounting and even opposing liberal reforms, promoting white-elephant style projects that use capital-intensive techniques on unrealistic grounds such as that they would create profits and savings when in fact they have drained the economy through losses..."

"The economy has collapsed due to this unprecedented challenge of Covid-19. The worst sufferers are the informal sector workers, daily wagers and the poor. We need a complete reboot of our economy and we must ensure that at least now we use this as an opportunity and build an environmentally sustainable model which is human economy, ensuring living wages to all and not perpetuating and furthering inequality."

"We need not feel embarrassed to advocate economic nationalism...Our government functionaries also must not feel shy to work closely with business. Jointly they should ensure that India's economic interests are protected -- through trade, investment, and foreign policy measures.."

"No nation will take from another what it can furnish cheaper and better itself. In India, almost every article which the inhabitants require, is made cheaper and better than in Europe. Among these are all cotton and silk manufactures, leather, paper, domestic utensils of brass and iron, and implements of agriculture. Their coarse woolens though bad, will always keep their ground from their superior cheapness; their finer camblets are warmer and more lasting than ours…Their simple mode of living dictated both by caste and climate, renders all our furniture and ornaments for the decoration of the house and the table utterly unserviceable to the Hindus: living in low mud houses, eating on the bare earth, they cannot require the various articles used among us. They have no tables; their houses are not furnished, except those of the rich, which have a small carpet, or a few mats and pillows. The Hindus eat alone, many from caste in the open air, others under sheds, and out of leaves of trees in preference to plates. But this is the picture, perhaps, of the unfortunate native reduced to poverty by European oppression under the Company’s monopoly? No, it is equally that of the highest and richest Hindu in every part of India. It is that of the Minister of State. His dwelling is little better than a shed; the walls are naked, and the mud floor, for the sake of coolness, is every morning sprinkled with a mixture of water and cow-dung. He has no furniture in it. He distributes food to whoever wants it, but he gives no grand dinners to his friends. He throws aside his upper garments, and with nothing but a cloth around his loins, he sits down half-naked, and eats his meal alone, upon the bare earth, and under the open sky... There is such a strange mixture of fraud and honesty in the natives of India, and even in the same individuals, in different circumstances, that none but a native can, on many occasions, penetrate the motives from which such opposite conduct arises. The numerous petty dealings constantly going on, with comparatively very few disputes, the frequency of depositing money and valuable articles without any kind of voucher, and the general practice of lending money without any kind of receipt or document but the accounts of the parties, manifest a high degree of mutual confidence, which can originate only in a conviction of the probity of each other. But, on the other hand, every native will perjure himself. In every litigation respecting water, boundaries of villages, and privileges of caste – in all these cases, he never speaks the truth, unless from the accident of its being on the side which he conceives himself bound to espouse. He will also perjure himself (not uniformly indeed, yet with little hesitation) in favour of a relation a friend, or an inhabitant of the same village; and even in favour of persons in whose welfare he has apparently no concern. These causes, added to bribery, render perjury so common, that scarcely any dependence can be placed upon evidence, unless where it is supported by collateral proofs. The number of witnesses, and even their general character, is therefore of less consequence than an acquaintance with those particulars, customs, and prejudices by which their evidence is likely to be biased."

"Slavery has sharpened the natural finess of all the spirits of Asia. From the difficulty of obtaining, and the greater difficulty of preserving it, the Gentoos are indefatigable in business, and masters of the most exquisite dissimulation in all affairs of interest. They are the acutest buyers and sellers in the world, and preserve through all their bargains a degree of calmness, which baffles all the arts that can be opposed against it. The children are capable of assisting them in their business at an age when ours scarce begin to learn. It is common to see a boy of eleven years into an assembly of considerable men, make his obeisance, deliver his message, and then retire with all the propriety and grace of a very well-bred man."

"Penal laws are scarce known among the Hindoos; for their motives to bad actions are few. Temperate in their living, and delicate in their constitutions, their passions are calm, and they have no object but that of living with comfort and ease. Timid and submissive, from the coldness of a vegetable diet, they have a natural abhorrence to blood. Industrious and frugal, they possess wealth which they never use. Those countries, governed by native princes, which lay beyond the devastations of the Mahommedans, are rich, and cultivated to the highest degree. Their governors encourage industry and commerce; and it is to the ingenuity of the Hindoos, we owe all the fine manufactures in the East. During the empire of the Moguls, the trade of India was carried on by the followers of Brahma. The bankers, scribes, and managers of finance were native Hindoos, and the wisest princes of the family of Timur protected and encouraged such peaceable and useful subjects."

"It has been observed elsewhere (vide Memoires des Pattans) that this economy and parsimony of the majority of gentiles was the reason for which usually they, and not the Moors, were employed by the nawabs and mighty personages, even Mohammedans, for the farming out of taxes and revenues of their governments, as well as in private affairs. It is they who everywhere manage all kinds of expenditure. One might imagine that it is because of the arrogance of the Moors, who think themselves too noble to tend to such matters, if one did not know from experience that with a Mohammedan at the head of an administration, where the revenues would fall to him, the master must expect to be badly paid and, at the end of a few years, be ruined before he knew it. Everywhere in Hindustan, at all the courts, beginning with the royal houses and even in those of wealthy private individuals, the diwans, or intendants, collectors, prosecutors, secretaries, inspectors, etc. are gentiles. It is to them that the Moors trust, putting in their hands the care and management of their affairs. The Moors, having consumed the revenues from the provinces of which they had the intendancy with balls, feasts, equipages and entourages to make themselves believe to be sovereign lords of the country of which they were intendants, ceased then to be so, subsequently pursued by their masters when time came to account for the administration. Having sold the furniture, chattels and all things which one could confiscate (excepting on several occasions what one had been shrewd enough to place in security), they declared themselves faqirs, that is to say, weary of the world and resolved to leave it with the pretext of awaiting nothing more than a divine life, retired and removed from all troubles. A skullcap rather than a turban on the head, the simple habit or robe of a monk, reddish in hue, a rosary in place of sabre in hand, staff in the other, and what is more, the Koran under the arm, afforded immediate protection from the pursuit of the treasurer or other court representatives, as well as from the creditors. Rather like that race of privileged thieves in Europe who, establishing their success on the ruin of others, declare bankruptcy at an opportune moment to enjoy unmolested the fortune acquired through their devious and deceitful ways. The people of India are foolish enough to respect these rogues…"

"It should…be noted that this vogue, or rather vice, of cutting a great figure by the splendour of great expenditure is one of the contagions which the Moors or Mohammedans have introduced to and spread throughout Hindustan... For the most, it is just the contrary among the gentiles, that is to say, among those who in no way follow in the steps of the Moors. Although, in the general corruption which this monarchy has in the last years reached, one sees enough in Delhi, the Indian Babylon, and elsewhere, who follow the court’s example and whose children are today in the same indigence and misery as those whose conduct they have emulated. I speak of those gentiles who, having entered commerce, are remote from those employments which more or less entail luxury. These are little concerned with appearance and making a fuss in the world with a greater entourage or more numerous domestics or more excessive costs than they had seen in the houses of their fathers and forebears. One observes the same domestics, the same livery, the same meals and more or less the same expenses in their households, although their property increases and their riches multiply. And, it is in truth a matter worthy of attention that the gentiles pass on by descendance the same wealth, often augmented, while the Moors, and those who emulate them in their ways of living, deplete in little time the immense sums they have inherited, or which have come to their hands through fate. Temperance, sobriety and parsimony, as well as the science of commerce, must be sought in India amongst the gentiles. I would further say, that one finds antiquity respective of their food and clothing, in their general way of life, considering that one remarks therein simplicity, the surest and, I think, strongest proof of the most remote heritage. For, one must avow that the simplest and most natural usage which men make of things they need has been the first and only which they have embraced and through example transmitted to posterity. Many things of which we make today necessity are but luxury and corruption; whereas, one lived in another age just as content, and perhaps happier, without knowing of them."

"The resultant effect of [Alauddins] policy was that the people in the villages suffered from extreme financial hardship. The poverty of Indians was noticed in the later period by foreigners."

"The Sultan requested the wise men to supply some rules and regulations for grinding down the Hindus, and for depriving them of that wealth and property which fosters disaffection and rebellion. ... The people were brought to such a state of obedience that one revenue officer would string twenty khiits, mukaddims, or chaudharis together by the neck, and enforce payment by blows. No Hindu could hold up his head, and in their houses no sign of gold or silver, tonkas or jitals, or of any superfluity was to be seen. These things, which nourish insubordination and rebellion, were no longer to be found. Driven by destitution, the wives of the khuls and mukaddims went and served for hire in the houses of the Musulmans.... The Hindu was to be so reduced as to be left un- able to keep a horse to ride on, to carry arms, to wear fine clothes, or to enjoy any of the luxuries of life. .... I have, therefore, taken my measures, and have made my subjects obedient, so that at my command they are ready to creep into holes like mice. Now you tell me that it is all in accordance with law that the Hindus should be reduced to the most abject obedience.I am an unlettered man, but I have seen a great deal; be assured then that the Hindus will never become submissive and obedient till they are reduced to poverty. I have, therefore, given orders that just sufficient shall be left to them from year to year, of corn, milk, and curds, but that they shall not be allowed to accumulate hoards and property.""

"The glitter of gems and gold in the Taj Mahal or the Peacock Throne ought not to blind us to the fact that in Mughal India, man was considered vile; - the mass of the people had no economic liberty, no indefeasible right to justice or personal freedom, when their oppressor was a noble or high official or landowner; political rights were not dreamt of... The Government was in effect despotism tempered by revolution or fear of revolution."

"Guru Nanak proceeds to describe how the oppressors shaved off the maidens, their ‘heads with braided hair, with vermillion marks in the parting’; how ‘their throats were choked with dust’; how they were cast out of their palatial homes, unable now to sit even in the neighbourhood of their homes; how those who had come to the homes of their husbands in palanquins, decorated with ivory, who lived in the lap of luxury, had been tied with ropes around their necks; how their pearl strings had been shattered; how the very beauty that was their jewel had now become their enemy – ordered to dishonour them, the soldiers had carried them off. ‘Since Babar’s rule has been proclaimed,’ Guru Nanak wrote, ‘even the princes have no food to eat.’"

"The Hindu was taxed to the extent of half the produce of his land, and had to pay duties on all his buffaloes, goats, and other milk-cattle. The taxes were to be levied equally on rich and poor, at so much per acre, so much per animal. Any collectors or officers taking bribes were summarily dismissed and heavily punished with sticks, pincers, the rack, imprisonment and chains. The new rules were strictly carried out, so that one revenue officer would string together 20 Hindu notables and enforce payment by blows. No gold or silver, not even the betelnut, so cheering and stimulative to pleasure, was to be seen in a Hindu house, and the wives of the impoverished native officials were reduced to taking service in Muslim families. Revenue officers came to be regarded as more deadly than the plague; and to be a government clerk was disgrace worse than death, in so much that no Hindu would marry his daughter to such a man. ... [These edicts] were so strictly carried out that the chaukidars and khuts and muqad-dims were not able to ride on horseback, to find weapon, to wear fine clothes, or to indulge in betel. . .... No Hindu could hold up his head. ..... Blows, confinement in the stocks, imprisonment and chains were all employed to enforce payment. ""

"(The) plebian sort is so poor that the greatest part of them go naked."

"Aurangzeb did this for two reasons: first, because by this time his treasures had begun to shrink owing to expenditure on his campaigns ; secondly, to force the Hindus to become Mahomedans. Many who were unable to pay turned Mahomedans, to obtain relief from the insults of the collectors. ... [Aurangzeb] was of the opinion that he had found in this tax an excellent means of succeeding in converting them, besides thereby replenishing his treasuries greatly..."

"An important order in the reign of Aurangzeb describes the Jagirdars as demanding in theory only half but in practice actually more than the total yield. Describing the conditions of the latter part of the seventeenth century Mughal empire, Dr. Tara Chand writes: “The desire of the State was to extract the economic rent, so that nothing but bare subsistence. remained for the peasant.” Aurangzeb’s instructions were that “there shall be left for everyone who cultivates his land as much as he requires for his own support till the next crop be reaped and that of his family and for seed. This much shall be left to him, what remains is land tax, and shall go to the public treasury.”"

"One idea that struck Alauddin Khalji (1296-1316) was that it was “wealth” which was the “source of rebellion and disaffection.” It encouraged defiance and provided means of “revolt”. He and his counsellors deliberated that if somehow people could be impoverished, “no one would even have time to pronounce the word ‘rebellion’.” ...According to W.H. Moreland “the question really at issue was how to break the power of the rural leaders, the chiefs and the headmen of parganas and villages…” Sultan Alauddin therefore undertook a series of measures to crush them by striking at their major source of power-wealth. But in the process, leaders and followers, rich and poor, all were affected. The king started by raising the land tax (Kharaj) to fifty percent....Furthermore, under Alauddin’s system all the land occupied by the rich and the poor “was brought under assessment at the uniform rate of fifty per cent”. ....In short, a substantial portion of the produce was taken away by the government as taxes and the people were left with the bare minimum for sustenance. For the Sultan had “directed that only so much should be left to his subjects (raiyyat) as would maintain them from year to year… without admitting of their storing up or having articles in excess.” ... Maulana Shamsuddin Turk, a divine from Egypt, was happy to learn that Alauddin had made the wretchedness and misery of the Hindus so great and had reduced them to such a despicable condition “that the Hindu women and children went out begging at the doors of the Musalmans.” ....While summing up the achievements of Alauddin Khalji, the contemporary chronicler Barani mentions, with due emphasis, that by the last decade of his reign the submission and obedience of the Hindus had become an established fact. Such a submission on the part of the Hindus “has neither been seen before nor will be witnessed hereafter.”"

"Mahmud Ghaznavi also collected lot of wealth from Khams. A few facts and figures may be given as illustrations. In his war against Jayapal (1001-02 CE) the latter had to pay a ransom of 2,50,000 dinars (gold coin) for securing release from captivity. Even the necklace of which he was relieved was estimated at 2,00,000 dinars "and twice that value was obtained from the necks of those of his relatives who were taken prisoners or slain..." A couple of years later, all the wealth of Bhera, which was "as wealthy as imagination can conceive," was captured by the conqueror (1004-05 CE). In 1005-06 the people of Multan were forced to pay an indemnity of the value of 20,000,000 (royal) dirhams (silver coin). When Nawasa Shah, who had reconverted to Hinduism, was ousted (1007-08), the Sultan took possession of his treasures amounting to 400,000 dirhams. Shortly after, from the fort of Bhimnagar in Kangra, Mahmud seized coins of the value of 70,000,000 (Hindu Shahiya) dirhams and gold and silver ingots weighing some hundred maunds, jewellery and precious stones. There was also a collapsible house of silver, thirty yards in length and fifteen yards in breadth, and a canopy (mandapika) supported by two golden and two silver poles.19 Such was the wealth obtained that it could not be shifted immediately, and Mahmud had to leave two of his "most confidential" chamberlains, Altuntash and Asightin, to look after its gradual transportation.20 In the succeeding expeditions (1015-20) more and more wealth was drained out of the Punjab and other parts of India. Besides the treasures collected by Mahmud, his soldiers also looted independently. From Baran, Mahmud obtained, 1,000,000 dirhams and from Mahaban, a large booty. in the sack of Mathura five idols alone yielded 98,300 misqals (about 10 maunds) of gold.21 The idols of silver numbered two hundred. Kanauj, Munj, Asni, Sharva and some other places yielded another 3,000,000 dirhams. ... At Somnath his gains amounted to 20,000,000 dinars."

"There should be left only so much to the Hindus that neither, on the one hand, they should become arrogant on account of their wealth, nor, on the other, desert their lands in despair."

"There are very many private men in cities and towns, who are merchants or tradesmen that are very rich: but it is not safe for them that are so, so to appear, lest that they should be used as filled sponges."

"[the people of Hindustan lived] “as fishes do in the sea - the great ones eat up the little. For first the farmer robs the peasant, the gentlemen robs the farmer, the greater robs the lesser and the King robs all.”"

"The utter subjection and poverty of the common people-poverty so great and miserable that the life of the people can be depicted or accurately described only as the home of stark want and the dwelling place of bitter woe. ... There are three classes of people who are indeed nominally free, but whose status differs very little from voluntary slavery-workmen, peons or servants and shopkeepers. For the workmen there are two scourges, the first of which is low wages. Goldsmiths, painters (of cloth or chintz), embroiderers, carpet makers, cotton or silk weavers, black-smiths, copper-smiths, tailors, masons, builders, stone-cutters, a hundred crafts in all-any of these working from morning to night can earn only 5 or 6 tackas (tankahs), that is 4 or 5 strivers in wages. The second (scourge) is (the oppression of) the Governor, the nobles, the Diwan, the Kotwal, the Bakshi, and other royal officers. If any of these wants a workman, the man is not asked if he is willing to come, but is seized in the house or in the street, well beaten if he should dare to raise any objection, and in the evening paid half his wages, or nothing at all. From these facts the nature of their food can be easily inferred… For their monotonous daily food they have nothing but a little khichri… in the day time, they munch a little parched pulse or other grain, which they say suffices for their lean stomachs… Their houses are built of mud with thatched roofs. Furniture there is little or none, except some earthenware pots to hold water and for cooking… Their bedclothes are scanty, merely a sheet or perhaps two… this is sufficient in the hot weather, but the bitter cold nights are miserable indeed, and they try to keep warm over little cowdung fires… the smoke from these fires all over the city is so great that the eyes run, and the throat seems to be choked."

"Peons or servants are exceedingly numerous in this country... for every one-be he mounted soldier, merchant or king’s official-keeps as many as his position and circumstances permit. Outside the house, they serve for display, running continually before their master’s horse; inside, they do the work of the house, each knowing his duty..."

"The common people (live in) poverty so great and miserable that the life of the people can be depicted or accurately described only as the home of stark want and the dwelling place of bitter woe… their houses are built of mud with thatched roofs. Furniture there is little or none, except some earthenware pots to hold water and for cooking…"

"[When Aurangzeb died] “he left behind him the fields of these provinces (Deccan) devoid of trees and bare of crops, their places being taken by the bones of men and beasts.”"

"When any hungry wretch takes it into his head to ruin the kingdom, he goes to the king and says to him: 'Sire; if your majesty will give me the permission to raise money and a certain number of armed men, I will pay so many millions. The king then asks how it is intended to raise the money. It is by nothing else than the seizure of everybody in the kingdom, men and women, and by dint of torture compelling them to pay what is demanded. Such financiers are hateful and avaricious men. The king generally consents to their unjust proposals, as he thereby satisfies his own greed; he accords the asked-for permission, and demands security bonds."

"The village communities are little republics, having nearly everything they want within themselves, and almost independent of any foreign relations. They seem to last where nothing else lasts. Dynasty after dynasty tumbles down; revolution succeeds to revolution; Hindoo, Patan, Mogul, Mahratta, Sik, English are all masters in turn; but the village communities remain the same... If a country remains for a series of years the scene of continued pillage and massacre, so that villages cannot be inhabited, the scattered villagers nevertheless return whenever the power of peaceable possession revives. A generation may pass away, but the succeeding generation will return. The sons will take the place of their fathers; the same site for the village, the same position for the houses, the same lands, will be occupied by the descendants of those who were driven out when the village was depopulated..."

"[In the seventeenth century John De Laet (1631) summarised the information he had collected from English, Dutch and Portuguese sources regarding the Mughal empire as a whole.] “The condition of the common people in these regions (south and west) is exceedingly miserable; wages are low; workmen get only one regular meal a day, the houses are wretched and practically unfurnished, and people have not got sufficient covering to keep warm in winter.”"

"The cities look attractive from a distance... Rich men have gardens... The common people live in huts and hovels."

"The conclusion that the decay noticed in the early 19th century and more so in subsequent decades originated with European supremacy in India, therefore, seems inescapable. The 1769-70 famine in Bengal (when, according to British record, one-third of the population actually perished), may be taken as a mere forerunner of what was to come. (...) During the latter part of the 19th century, impressions of decay, decline and deprivation began to agitate the mind of the Indian people. Such impressions no doubt resulted from concrete personal, parental and social experience of what had gone before. They were, perhaps, somewhat exaggerated at times. By 1900, it had become general Indian belief that the country had been decimated by British rule in all possible ways; that not only had it become impoverished, but it had been degraded to the furthest possible extent; that the people of India had been cheated of most of what they had; that their customs and manners were ridiculed, and that the infrastructure of their society mostly eroded. One of the statements which thus came up was that the ignorance and illiteracy in India was caused by British rule; and, conversely, that at the beginning of British political dominance, India had had extensive education, learning and literacy. By 1930, much had been written on this point in the same manner as had been written on the deliberate destruction of Indian crafts and industry, and the impoverishment of the Indian countryside."

"Staggering numbers also died as collateral damage of the deliberate impoverishment by Sultans like Alauddin Khilji and Jahangir. As Braudel put it: "The levies it had to pay were so crushing that one catastrophic harvest was enough to unleash famines and epidemics capable of killing a million people at a time. Appalling poverty was the constant counterpart of the conquerors' opulence.""

"…grandees pay for a work of art considerably under its value, and according to their own caprice. … When an Omrah or Mansabdar requires the services of an artisan, he sends to the bazar for him, employing force, if necessary, to make the poor man work; and after the task is finished, the unfeeling lord pays, not according to the value- of the labour, but agreeably to his own standard of fair remuneration; the artisan having reason to congratulate himself if the Korrah has not been given in part payment."

"No artisan can be expected to give his mind to his calling in the midst of a people who are either wretchedly poor, or who, if rich, assume an appearance of poverty, and who regard not the beauty and excellence but the cheapness of an article; a people whose grandeess pay for a work of art considerably under its value and according to their own caprice… For it should not be inferred that the workman is held in esteem, or arrives at a stage of independence. Nothing but sheer necessity or blows from a cudgel keeps him employed; he never can become rich, and he feels it no trifling matter if he have the means of satisfying the cravings of hunger and of covering his body with the coarsest garment. If money be gained it does not in any measure go into his pocket, but only serves to increase the wealth of the merchant."

"[The Mughals maintained] “a large army for the purpose of keeping people in subjection… No adequate idea can be conveyed of the sufferings of the people. The cudgel and the whip compel them to incessant labour… their revolt or their flight is only prevented by the presence of a military force.”"

"As the ground is seldom tilled otherwise than by compulsion… the whole country is badly cultivated, and a great part rendered unproductive… The peasant cannot avoid asking himself this question: Why should I toil for a tyrant who may come tomorrow and lay his rapacious hands upon all I possess and value… without leaving me the means (even) to drag my own miserable existence? - The Timariots (Timurids), Governors and Revenue contractors, on their part reason in this manner: Why should the neglected state of this land create uneasiness in our minds, and why should we expend our own money and time to render it fruitful? We may be deprived of it in a single moment… Let us draw from the soil all the money we can, though the peasant should starve or abscond…"

"Most towns in Hindustan are made up of earth, mud, and other wretched material; that there is no city or town (that) does not bear evident marks of approaching decay. (...) In eastern countries, the weak and the injured are without any refuge whatever; and the only law that decides all controversies is the cane and the caprice of a governor."

"There was no middle state. A man must be of the highest rank or live miserably."

"India survived only by virtue of its patience, its superhuman power and its immense size. The levies it had to pay were so crushing that one catastrophic harvest was enough to unleash famines and epidemics capable of killing a million people at a time. Appalling poverty was the constant counterpart of the conquerors’ opulence."

"Indians of old were keenly alive to the expansion of dominions, acquisition of wealth, and the development of trade, industry and commerce. The material prosperity they gained in these various ways was reflected in the luxury and elegance that characterized the society... The adventurous spirit of the Indians carried them even as far as the North Sea, while their caravans traveled from one end of Asia to the other."

"The wealth of the country reached its two peaks under Chandragupta Maurya and Shah Jehan. The riches of India under the Gupta kings became a proverb throughout the world. Yuan Chwang pictured an Indian city as beautified with gardens and pools, and adorned with institutes of letters and arts; “the inhabitants were well off, and there were families with great wealth; fruit and flowers were abundant. . . . The people had a refined appearance, and dressed in glossy silk attire; they were . . . clear and suggestive in discourse; they were equally divided between orthodoxy and heterodoxy.”41 “The Hindu kingdoms overthrown by the Moslems,” says Elphinstone, “were so wealthy that the historians tire of telling of the immense loot of jewels and coin captured by the invaders.”42 Nicolo Conti described the banks of the Ganges (ca. 1420) as lined with one prosperous city after another, each well designed, rich in gardens and orchards, silver and gold, commerce and industry.43 Shah Jehan’s treasury was so full that he kept two underground strong rooms, each of some 150,000 cubic feet capacity, almost filled with silver and gold.44 “Contemporary testimonies,” says Vincent Smith, “permit of no doubt that the urban population of the more important cities was well to do.”45 Travelers described Agra and Fathpur-Sikri as each greater and richer than London.46 Anquetil-Duperron, journeying through the Mahratta districts in 1760, found himself “in the midst of the simplicity and happiness of the Golden Age. . . . The people were cheerful, vigorous, and in high health.”47 Clive, visiting Murshidabad in 1759, reckoned that ancient capital of Bengal as equal in extent, population and wealth to the London of his time, with palaces far greater than those of Europe, and men richer than any individual in London.48 India, said Clive, was “a country of inexhaustible riches.”49 Tried by Parliament for helping himself too readily to this wealth, Clive excused himself ingeniously: he described the riches that he had found about him in India—opulent cities ready to offer him any bribe to escape indiscriminate plunder, bankers throwing open to his grasp vaults piled high with jewels and gold; and he concluded: “At this moment I stand astonished at my own moderation.”50"

"“The Indians,” says Megasthenes, “neither put out money at usury” (interest), “nor know how to borrow. It is contrary to established usage for an Indian either to do or to suffer wrong; and therefore they neither make contracts nor require securities.”"

"Internal trade flourished; every roadside was—and is—a bazaar. The foreign trade of India is as old as her history;22 objects found in Sumeria and Egypt indicate a traffic between these countries and India as far back as 3000 B.C.23 Commerce between India and Babylon by the Persian Gulf flourished from 700 to 480 B.C.; and perhaps the “ivory, apes and peacocks” of Solomon came by the same route from the same source. India’s ships sailed the sea to Burma and China in Chandragupta’s days; and Greek merchants, called Yavana (Ionians) by the Hindus, thronged the markets of Dravidian India in the centuries before and after the birth of Christ.24 Rome, in her epicurean days, depended upon India for spices, perfumes and unguents, and paid great prices for Indian silks, brocades, muslins and cloth of gold; Pliny condemned the extravagance which sent $5,000,000 yearly from Rome to India for such luxuries. Indian cheetahs, tigers and elephants assisted in the gladiatorial games and sacrificial rites of the Colosseum.25 The Parthian wars were fought by Rome largely to keep open the trade route to India. In the seventh century the Arabs captured Persia and Egypt, and thereafter trade between Europe and Asia passed through Moslem hands; hence the Crusades, and Columbus."

"In 1823, A. D. Campbell, a British officer stationed in South India, wrote about the direct impact of these economic policies on the state of education: ‘I am sorry to state that this is ascribable to the gradual but general impoverishment of the country. The means of the manufacturing classes have been, of late years greatly diminished, by the introduction of our own European manufactures, in lieu of the Indian cotton fabrics. ... the transfer of the capital of the country ... and daily draining it from the land, has likewise tended to this effect ... the greater part of the middling and lower classes of the people are now unable to defray the expenses incident upon the education of their offspring, while their necessities require the assistance of their children as soon as their tender limbs are capable of the smallest labour.’ … in many villages where formerly there were schools, there are now none’; […] ‘learning, though it may proudly decline to sell its stores, had never flourished in any country except under the encouragement of the ruling power, and the countenance andsupport once given to science in this part of India has long been withheld.’ […] ‘of the 533 institutions for education now existing in this district, I am ashamed to say not one now derives any support from the State’ […] ‘there is no doubt, that in former times, especially under the Hindoo Governments very large grants, both in money and in land, were issued for the support of learning."

"The Sultans drew from the people every rupee of tribute that could be exacted by the ancient art of taxation, as well as by straightforward robbery; but they stayed in India, spent their spoils in India, and thereby turned them back into India’s economic life. Nevertheless, their terrorism and exploitation advanced that weakening of Hindu physique and morale which had been begun by an exhausting climate, an inadequate diet, political disunity, and pessimistic religions. The usual policy of the Sultans was clearly sketched by Alau-d-din, who required his advisers to draw up “rules and regulations for grinding down the Hindus, and for depriving them of that wealth and property which fosters disaffection and rebellion.”80 Half of the gross produce of the soil was collected by the government; native rulers had taken one-sixth. “No Hindu,” says a Moslem historian, “could hold up his head, and in their houses no sign of gold or silver . . . or of any superfluity was to be seen. . . . Blows, confinement in the stocks, imprisonment and chains, were all employed to enforce payment.” When one of his own advisers protested against this policy, Alau-d-din answered: “Oh, Doctor, thou art a learned man, but thou hast no experience; I am an unlettered man, but I have a great deal. Be assured, then, that the Hindus will never become submissive and obedient till they are reduced to poverty. I have therefore given orders that just sufficient shall be left to them from year to year of corn, milk and curds, but that they shall not be allowed to accumulate hoards and property.”"

"‘Under the capitalist system, in order that England may live in comparative comfort, a hundred million Indians must live on the verge of starvation – an evil state of affairs, but you acquiesce in it every time you step into a taxi or eat a plate of strawberries and cream’."

"She reads the mind behind the capitalist conspiracy to reform Hinduism thus: "Capitalism is often believed to thrive among Semitic religions such as Christianity and Islam. The argument would then run that if capitalism is to succeed in India, then Hinduism would also have to be moulded in a Semitic form"."