Capital Shortage (Paperback) (ISBN-13: 9781009359047)

The great majority of the population in colonial and postcolonial India lived in the countryside and were poor. Many were unable to find gainful work outside agriculture and remained dependent on a livelihood that provided only subsistence, and a precarious one. Seeking the roots of persistent poverty, Maanik Nath finds that the pervasive high cost and shortage of capital affected the peasant's ability to invest in land. The productivity of land, as a result, remained small and changed little. Bridging economic theory and historical evidence, Capital Shortage shows that climate, law, policy design, and interactions between these factors, perpetuated a stubborn cycle of low investment and widespread deprivation over several decades. These findings can be tested against credit and development in preceding and succeeding periods as well as positioned in comparative global context.

Author: Maanik Nath
ISBN-10: 1009359045
ISBN-13: 9781009359047
Publisher: Cambridge University Press
Language: English
Published: 05/08/2025
Pages: 247
Format: Paperback
Weight: 0.74lbs
Size: 9.00h x 6.00w x 0.52d