After da Gama: real wages in Western India, c. 1500–c. 1650
Helder Carvalhal,
Jan Lucassen,
Pim De Zwart
Abstract:The article analyses the evolution of Indian real wages for the period 1500–1650. It argues that the Great Divergence between India and north-western Europe was already visible by the early 1500s by making use of a new dataset of 2,710 separate observations, reflecting over 76,000 paid-out wages, for nine locations in Western India. These wages were deflated by rice prices and a basket of goods and imply low and declining standards of living over the sixteenth and early seventeenth centuries. In comparison wit… Show more
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