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Thomas Malthus

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Anyone would expect that Malthus, who taught the future servants of the East India Company, would draw, for his pessimistic evidence, on the huge, poor and prolific population of India. There is, however, only passing reference to Hindustan in his great Essay on The Principle of Population.
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John Kenneth Galbraith, The Age of Uncertainty, Chapter 4, p. 109-110

 
Thomas Malthus

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The amount of time it takes to provide is threefold for families whom have to make due with very little. … Children from poor households learn to have very low expectations of themselves and their future because they believe that the world around them doesn't expect much from them either. In India, children of the lower castes are taught still today that once poor always poor so they don't think to become doctors or lawyers because their last name may not be Gupta or whatever other typically higher caste name there may be in India.

 
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The practice of creating chartered joint-stock companies of a modern type seems to have begun at the commencement of the seventeenth century; and the formation of the East India Company is one of the earliest, if not the very earliest, examples. At first, it appears, the 'joint stock' of the company was separately made up for each ship; perhaps for each voyage. But, in the year 1612 the Company made the momentous resolve to have one joint stock for the whole of its affairs, and thus inaugurated a new epoch. The East India Company, or Companies, (for there were two of them), were followed by the Hudson's Bay Company (1670), the existence of which was recognized by statute in 1707, and by the Bank of England and the notorious South Sea Company.

 
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In the first place I identify this ["the equilibrium of poverty"] with primitive agriculture, and two factors have been at work there. One is, of course, population growth. If you were a poor farmer in India, Pakistan, or in much of Africa, you would want as many sons as possible as your social security. They would keep you out of the hot sun and give you some form of subsistence in your old age. So, you have pressure for population growth that is, itself, the result of the extreme economic insecurity. This is something which hasn't been sufficiently emphasized.

 
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One thing seems at any rate certain, that the spiritual motive will be in the future of India, as in her past, the real originative and dominating strain. By spirituality we do not mean a remote metaphysical mind or the tendency to dream rather than to act. That was not the great India of old in her splendid days of vigour, — whatever certain European critics or interpreters of her culture may say, — and it will not be the India of the future. Metaphysical thinking will always no doubt be a strong element in her mentality, and it is to be hoped that she will never lose her great, her sovereign powers in that direction...

 
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