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  3. Debt, Trust, and Reputation
  • Cited by 2
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    • Publisher:
      Cambridge University Press
      Publication date:
      November 2021
      June 2022
      ISBN:
      9781009043670
      9781316517260
      DOI:
      https://doi.org/10.1017/9781009043670
      Dimensions:
      (229 x 152 mm)
      Weight & Pages:
      0.64kg, 384 Pages
      Dimensions:
      Weight & Pages:
      • Subjects:
      History, Political Economy, Political Sociology, Politics and International Relations, Economic History
      Series:
      Metamorphoses of the Political: Multidisciplinary Approaches
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    Subjects:
    History, Political Economy, Political Sociology, Politics and International Relations, Economic History
    Series:
    Metamorphoses of the Political: Multidisciplinary Approaches
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    Book description

    Starting in the late nineteenth century, colonial rule in India took an active interest in regulating financial markets beyond the bridgeheads of European capital in intercontinental trade. Regulatory efforts were part of a modernizing project seeking to produce alignments between British and Indian business procedures, and to create the financial basis for incipient industrialization in India. For vast sections of Indian society, however, they pushed credit/debt relations into the realm of extra-legality, while the new, regulated agents of finance remained incapable (and unwilling) of serving their needs. Combining historical and ethnographic approaches, the book questions underlying assumptions of modernization in finance that continue to prevail in postcolonial India, and delineates the socioeconomic responses they produced, and studies the reputational economies of debt that have emerged instead – extra-legal markets embedded into communication flows on trust and reputation that have turned out to be significantly more exploitative than their colonial predecessors.

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