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Download Credit, Markets and the Agrarian Economy of Colonial India by Sugata Bose PDF

By Sugata Bose

This learn attracts on various historiographical ways to discover a subject imperative to all discussions of the colonial financial system in India. Bose considers such questions as why peasants borrowed, how credits intruded into peasants' lives and reworked their international, how we might such a lot usefully symbolize the connection among peasants and usurers, and the way borrowers understand their collectors.

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40 This is not to deny that indebted peasant labourers often saw their creditors as all-powerful beings. The Bhils and Grasias of western India were just two among several tribes which ascribed to sahukars the power to stop rain as part of their scheming designs. We have it on the authority of close anthropological observation that the Bhils 'never look[ed] so meek, so humble and so docile as when they [we ]re dealing with the moneylender'. 41 But the mocking and searing sarcasm expressed in some of their proverbs provide a better glimpse into their minds.

451. 26 / CREDIT, MARKETS AND THE AGRARIAN ECONOMY and dialogic dimension to their interrogation of power, for peasant debtors the expectation of a reciprocal subsistence guarantee was an important additional factor enhancing the use-value of hegemonic appearances. 46 Yet even during the extended periods when the unequal symbiosis underpinning credit relations at a societal level was intact, the 'murder of extortionate moneylenders had social sanction'. 47 In other words, the violation of socially negotiated norms by individual moneylenders could be punished.

40 Carver, op. , p. 275. 41 Carver, SelectedReadingsin Rural Economics,pp. 939-42. 39 38 / CREDIT, MARKETS AND THE AGRARIAN ECONOMY of living rose, and debt greatly increased. No better instance could be given of the close correspondence between even remote countries in their rural problems. EFFECT OF HIGH PRICES The expansion in credit that followed th~ rise in the value of land is undoubtedly the main factor in the increase of debt, but the high prices which came with the-Great War also had something to do with it.

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