What Happened to Indian Supremacy? The Systemic Loss of Prosperity

Greg Clydesdale

Journal of the Asia Pacific Economy, 2007, vol. 12, issue 3, 305-328

Abstract: From the 15th to the 18th century, northern India was one of the most prosperous regions in the world, with highly advanced industrial and commercial techniques. A favourable natural endowment and the stability of the Mughal Empire allowed the creation of forward and backward linkages. These resulted in an economic system of inter-linked producers driven by market forces. The system itself was a key factor in the prosperity and competitiveness of the producers who comprised it. In the 18th century, the pillars on which the system stood began to fall. This history provides a systems-based explanation for the decline of an efficient, flexible economy.

Date: 2007
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DOI: 10.1080/13547860701405730

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