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The Market as a Social Institution
In what ways did the Indian economy change after the coming of colonialism?
Changes in Indian economy after colonisation.
(i) It created disruptions in production, trade and agriculture Eg. Demise of handloom industry.
(ii) Indian economy began to link to the capitalist economy of the world.
(iii) India was left mere source of raw materials, and agricultural products and merely consumer of imported machine made goods.
(iv) Some merchant communities could improve their position by accommodating changed circumstances. These were Marwari communities who took advantage of cities like Calcutta, spread their trade and money-lending business throughout the country.
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How does a sociological prospective on markets differ from an economic one?
In what ways is a market-such as a weekly market a social institution.
How many caste and kin networks contribute to the success of a business?
In what ways did the Indian economy change after the coming of colonialism?
Explain the meaning of commoditisation with the help of examples.
What is a status symbol?
What are some of the processes included under the label globalisation?
What is meant by liberalisation?
In your opinion will the long term benefits of liberalisation exceed its costs? Give reasons for your answer.
How can you state that markets are nothing else but a kind of social organisation?
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