Tuesday, February 07, 2006

the data on india's economy

feb 7th

solarpetal, you asked about the data on india's economy. sources are: angus maddison, an economic historian who is actually a big fan of china; and 'the clash of civilizations' which quotes data from other sources that show the size of india's economy. basically, until 1757 and the battle of plassey, india was the richest country in the world. the brits took so much money out that if you compound it at 6% interest, it comes to the $10 trillion+ number that i talk about.

one example, just robert clive's loot comes to several billion dollars in today's money.

i have talked about this in detail in earlier columns, please do a google search. there are references to angus maddison too somewhere in earlier columns or on this blog.

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