Mughal State Finance and the Premodern World Economy

  title={Mughal State Finance and the Premodern World Economy},
  author={John F. Richards},
  journal={Comparative Studies in Society and History},
  pages={285 - 308}
  • J. F. Richards
  • Published 1 April 1981
  • History, Economics
  • Comparative Studies in Society and History
In the April 1979 issue of CSSH, Karen Leonard has advanced a new explanation for the decline and eventual collapse of the Mughal empire in India. She argues that “indigenous banking firms were indispensable allies of the Mughal state” (p. 152), and that the great nobles and imperial officers “were more than likely to be directly dependent upon these banking firms.” (p. 165) Thus, when in the period 1650–1750 these banking firms began “the redirection of [their] economic and political support… 
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