The Hidden Truth: How the British Empire Shaped India's Economy

Video Description

This interview with Tirthankar Roy, Professor of Economic History at the London School of Economics and Political Science, explores the economic history of India. Hosted by Daniel Freeman, IEA Managing Editor, the discussion covers the state of India's economy during the Mughal Empire, the rise of the East India Company, and the effects of British rule on India's economic development up to and beyond independence. Professor Roy analyses various aspects of India's economic evolution, including the impact of geography on agricultural productivity, legal reforms shaping property rights, and the consequences of technological changes in the 19th century. He addresses misconceptions about India's deindustrialization and provides perspective on factors contributing to famines, including the Bengal famine of the 1940s. The conversation also examines the lasting impacts of British colonial policy in India. Professor Roy points out the colonial administration's reluctance to invest in public goods as a significant drawback, while noting their efforts in famine prevention and epidemic control as achievements. This interview offers a comprehensive look at India's economic journey, providing insights into economic history, colonialism, and the development of the world's most populous country.