explain the growth of British empire in india
Answers
Growth of the British Empire in India
1. The empire which known for mercantilism, its Imperialism. The Sun Never Set empire. The Power Hungry Empire which took down the most powerful empires, made them as colonies and looted their resources to fuel its Industrial Revolution. In turn dumped the colonies with its finished goods and there by breaking the backbone of the nations by hurting its Native Industry. The Empire which defined the quote “Flag Follows the Trade” & “Trade Follows the Trade” The Empire which is known for pondering the wealth of most parts of the world.
2. Britain’s known for its rich blend of art and science, and also for its strong Economy. Due to which world has seen some renounced Economists such as Adam Smith, Milton Friedman, John Stuart Mill etc. Presence of such brilliant minds helped Britain to form a firm fundamental base and knowledge in the development of Economics. And also the up roaring Industrial Revolution, its constant zeal in finding new places to trade led the empire grow firmly. Every nation has its own Economic Thought and its own perception of things. The present study attempts to have a glance on the British empire, its economic thought and its impact on the Indian Economy.
3. Background and History : The history of British economy can be traced back from 1700. Since then the economy has grown in several different ways which has led to the prosperity of the nation and worldwide. As said earlier the thoughts of Mercantilism and Imperialism prevailed giving you a glance on the thinkers of economics of the British.
4. John Locke : John Locke (1632–1704) was born near Bristol, and educated in London and Oxford. social contract theory. Locke believed that people contracted into society, which was bound to protect their property rights. When people combined their labor with their surroundings, that created property rights “Some Considerations on the Consequences of the Lowering of Interest and the Raising of the Value of Money (1691)” arguing that the "price of any commodity rises or falls, by the proportion of the number of buyers and sellers", a rule which "holds universally in all things that are to be bought and sold.
5. Adam Smith: (1723-1790) He is best known for two classic works: The Theory of Moral Sentiments (1759), and An Inquiry into the Nature and Causes of the Wealth of Nations (1776). The father of Modern Economics who is known for his Invisible hand Theory, Laissez faire Economic Policies and who strongly argued against mercantilism and became the father of Modern Free Trade.
6. David Ricardo: (1772-1823) Known for his famous theories “Theory of Rent” Law of Diminishing Returns Law of Comparative Costs (Comparative Advantage) Writings include the “Influence of a Low Price of Corn on the Profits of Stock (1815)”
7. John Maynard Keynes General Theory of Employment, Interest and Money. Keynes advocated increased government expenditures and lower taxes to stimulate demand and pull the global economy out of the Depression. Aggregate Demand on Facebook
8. The British • The British wanted many of the raw materials India produced - cotton, indigo, jute (burlap), spices, sugar, and tea • These material were shipped to Britain for use in British factories – finished products were then shipped around the world to British colonies • There were some advantages of the British invasion – railroads, education, hospitals, common language, • There were disadvantages too – low wages, few rights, no say in government
9. British East India Company • During the 1700’s and 1800’s the East India Company slowly took control of India • As the Mughal Empire grew weak, the East India Company grew in economic and political strength and began to build its own military force • The military force mainly consisted of sepoys, Indian soldiers, led by British commanders
10. British East India CompanyDocument #1 The British East India Company ruled India with little interference from the British government. The company even had its own army, led by British officers and staffed by sepoys, or Indian soldiers. About one in six was British. Yet, only the British could be commissioned officers; no Indian could reach a higher rank than that of petty officer.
Explanation:
द ईस्ट इंडिया कंपनी केम टो इंडिया फॉर ट्रेड एंड सुन बिकम सक्सेसफुल इन गेनिंग मोनोपली ओवर द ट्रेन डे कंसोलिडेटेड डेकोरेशन बिगिनिंग फ्रॉम द बैटल ऑफ प्लासी डियर प्राइज्ड पावर इन इंडिया सबकॉन्टिनेंट बाय 30 ग्रेटेस्ट डॉक्ट्रिन ऑफ़ लैप्स सेक्टर 10 एनिमल डैम टू गेट अ रियल पावर एंड इंटरफेयर इन पॉलीटिकल एंड एडमिनिस्ट्रेटिव अफेयर्स ऑफ़ इंडिया