Some historical ponderings.
An American political philosopher friend of mine was wondering how market
practices and institutions would have been affected had economic, cultural
and political conditions been slightly different during the Industrial
Revolution in Britain. For example, he speculates that the factory structure
would have been less authoritarian had labour been more scarce and more
dear. Any thoughts?
Also, a question: How vital was the economic exploitation of its colonies
(esp. India) to the growth and development of British capitalism? Some
people seem to believe it was extremely vital. Some that the British economy
was already well-developed by the time the exploitation took effect.
Any thoughts? Are there any good books/articles on these subjects?
Chirag Kasbekar
MA (economics), University of Mumbai (Bombay), India
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