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I was on reading something on this forum a few minutes ago (when I started writing at least, 2 weeks + now. was really busy XD) and made an observation. Despite the significance of the Industrial Revolution to the contemporary world, people are not truly familiar with the subject. Yet, people don’t realize that the problems faced by the Industrial Revolution are still being face in developing nations. Forgetting the lessons of the past is a dangerous event. Hence, here is a brief introduction...

This is a reposting of a contribution to the "How did India go from Being a Rich Country to a Poor Country" thread.

Two of the earliest policies in India were to establish monopolies in key industries such as salt, tobacco, and essential spices, as well as to discourage manufacturing.

The most significant early economic policy of the British was the salt tax. It is said that in hot regions salt is worth more than gold. It was a necessity of life, which is...