Impact on local economies from "summary" of The Anarchy by William Dalrymple
The impact of the East India Company on local economies was immense and far-reaching. As the Company expanded its operations in India, it began to dominate trade in key commodities such as textiles, spices, and opium. This had a profound effect on local producers and merchants, who found themselves unable to compete with the Company's superior resources and connections. Many small-scale artisans and traders were driven out of business, leading to widespread poverty and unemployment in the regions where the Company operated.
In addition to displacing local producers, the Company also imposed unfair trade practices that further undermined the local economy. For example, the Company often paid lower prices for Indian goods than...
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