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- W1988148571 abstract "James Mill, as a high official of the East India Company, had the opportunity after 1819 to establish economic for India. In fact, James Mill's Utilitarian philosophy of government and his advocacy of Ricardian rent theory as the basis for revenue policies in India set the pattern for the development of modern India. Both James and John Stuart Mill (who succeeded his father with the company) defended the company against its critics, such as J. R. McCulloch and Richard Jones, who argued that the revenue was inhibiting economic development. Modern Indian institutions are an amalgamation of Benthamism, Fabian Socialism, and Brahminism. I IF THE PRESENT mirrors the past, although obscurely, and economic helped shape the past, perhaps some broad and general but useful in- ferences can be drawn about the development of India in the 19th and 20th centuries by examining James Mill's attempt to apply Ricardian economics-particularly, the rent theory-to India in the first third of the 19th century. At that time James Mill held one of the most impor- tant posts in the British East India Company, one to which he had been appointed in 1819. Mill had the unique opportunity to fashion guide lines out of the 'new science of political economy' as laid down by Ri- cardo; and to do so without the usual constraints of domestic politics. That James Mill believed that good economic policy could change India-and the world-has been shown (1). However, the new political economy espoused by James Mill was not limited merely to appropriate tax and revenue to encourage development; but such was the lynch-pin in the new rationalistic view of man (Utilitarianism) which guided James Mill in his administration. It is significant that the policy, once established, remained in effect, although with modification, for a century." @default.
- W1988148571 created "2016-06-24" @default.
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- W1988148571 date "1976-10-01" @default.
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- W1988148571 title "The 'New Political Economy' and British Economic Policy for India*" @default.
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- W1988148571 doi "https://doi.org/10.1111/j.1536-7150.1976.tb03031.x" @default.
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