Merchant Capitalism and the Great Transition
Merchant Capitalism and the Great Transition
This chapter sets out the stakes of the book's argument, situating the English East India Company with respect to some of the larger processes of transition and change in the early modern period and the dawn of modernity in the nineteenth century. The issues addressed are large-scale macro-historical outcomes, such as economic development in the West, underdevelopment in Asia, growth in state capacity, the development of economic theory, and the emergence of new organizational forms. All are linked to and intertwine with the story of the English East India Company. In addition, these developments have at times been indirectly linked to the Industrial Revolution, which the chapter also briefly touches upon.
Keywords: early modern period, modernity, nineteenth century, Industrial Revolution, economic theory, underdevelopment, economic development, new organizational forms, merchant capitalism
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