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Hindu Capitalism #17: The writings of Lakshmi Chandra Jain
Lakshmi Chandra Jain appears to have written two books in the 1920s/1930s that could throw considerable light on Hindu capitalism.
a) Indigenous banking in India, Macmillan and Co., limited, 1929 – 274 pages [Also available here - possibly for purchase?]. This book was apparently a doctoral thesis at the University of London.
b) The monetary problems of India, Macmillan and Co., Limited, 1933 – 222 pages
I don't think it is going to be easy to get these two books, but if you have any access or can send key portions (OCRd/ scanned), please do so.
London friends, the book is available in LSE – HERE. If you can get it and scan relevant sections that would be much appreciated!
It is clear to me by now that a very good case exists to write a COMPREHENSIVE history of Hindu capitalism.
Such a book will open the eyes of the socialists who rule India. It will dispel the ignorance of those who believe that economics was invented by Adam Smith, and that there was no history of economic institutions till the “brilliant” English landed on the world stage.
I am increasingly convinced that careful examination of original Indian history and sources will reveal a HUGE underpinning of market institutions in India – that were subverted/ undermined by British rule in India, and subsequent socialist rule by Nehru and his Godchildren (including BJP).
Addendum
Let me add a note I found on the internet somewhere (this has nothing to do with Jain's writings, but I'm including it here lest I lose this info.
In ancient India there is evidence of loans from the Vedic period (beginning 1750 BC).[81][82] Later during the Maurya dynasty (321 to 185 BC), an instrument called adesha was in use, which was an order on a banker desiring him to pay the money of the note to a third person, which corresponds to the definition of a bill of exchange as we understand it today. During the Buddhist period, there was considerable use of these instruments. Merchants in large towns gave letters of credit to one another.[83]
2012-08-20 06:00:19
Source: http://sabhlokcity.com/2012/08/hindu-capitalism-17-the-writings-of-lakshmi-chandra-jain/
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