Economic History and Current India

Topics: Economics, Economy, Economic development Pages: 3 (1066 words) Published: May 21, 2013
There have been recent studies of the entire history of the economy of india where it is possible to ananlyse where india stood its place in past and where it is currently held. Paul Birog made a thorough analysis of Asian countries GDP economic development of 1750-1918 where surprisingly the findings in 1700AD drawn economic statistics of world . China had 32.8% GDP where as as india had 25% . UK at that time had 1.8% GDP along with 1% GDP in USA. By the time of 1900 there was a total reversal of paradigm shift where US and UK had GDP growth of 41% whereas China and India suffered 1.7% GDP overall. The western research shows that india was a economic giant . London economist Angus Madisson in 1990, one of the greatest british economist of all time was appointed by the OECD nations to verify Paul Birogs research along with different levels of assistances from different countries. Eventually in 2010 he published a 2000 year economy of India where it showed from 1AD India topped thed world with 34% GDP. Still in 1000AD it had 28% GDP. In the years 1500 and 1600 china overtakes india. Again in 1700 india overtakes china and finally the entire crash of the Indian economy began later in 1750’s where the british colonial overlords landed in the country and started looting the country and exploiting its resources. The OECD website refers in the “world economic history and millennium perspective” lists out all these information which have been quoted before. It is one of the most trusted and relied upon website to refer to the statistics of the world economies. Although the word society is absent completely in western society where Margaret Thatcher said in 1971, that there is nothing called as society. And today all the western accepts today is the alternate version of so called civil society. Now civil society is totally different from the traditional society where it can be suggested that it is a form of ‘anti...
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