Commercialisation, peasant differentiation and merchant capital in late nineteenth-century Bombay and Punjab

This paper seeks to analyse the progress and impact of commercialisation in agriculture in late nineteenth-century Bombay and Punjab. It argues, contrary to accepted wisdom, that late nineteenth-century Bombay agriculture was characterised by stagnation rather than growth, and that preconditions for the displacement of merchant capital by a rising class of commercial rich peasantry were absent during this period. The Bombay rural economy was an example of commercialisation without progressive peasant differentiation. In contrast, Punjab agriculture, under the aegis of State intervention, produced a nouveau riche peasantry which, by the end of the nineteenth century, took over many of the functions previously performed by a specialised merchant capitalist class. The paper is a part of a larger study of the pattern and causes of agricultural growth and stagnation in Bombay and Punjab between 1881 and 1972

Agricultural economics · Agriculture · Ancient history · Archaeology · Capital (architecture · Development economics · Economic history · Economics · Economy · Intervention (counseling · Peasant · Political science · State (computer science · History · Law · Social and Economic Development in India

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