Lack of regulation from "summary" of The Anarchy by William Dalrymple
The absence of regulation in the early days of the East India Company allowed for an environment where unchecked power and corruption thrived. With no oversight or accountability, the Company's officials were free to exploit the resources and people of India for their own gain. This lack of regulation led to widespread abuse, as Company agents operated with impunity, amassing great wealth through extortion, bribery, and violence.
The Company's dominance was further solidified by its military might, which it used to enforce its will and suppress any challenges to its authority. This unchecked power allowed the Company to establish a monopoly over trade in India, dictating terms to local merchants and rulers and extracting exorbitant profits at the expense of the Indian population.
The absence of regulation also had devastating consequences for the Indian economy, as the Company's policies prioritized the extraction of wealth over the well-being of the local population. Land was seized, crops were destroyed, and traditional industries were decimated, leading to widespread poverty and suffering among the Indian people.
The lack of regulation extended beyond economic matters, as the Company's officials also acted with impunity in matters of justice and governance. Bribery and corruption were rampant, leading to a breakdown of law and order in many parts of India. The Company's agents often acted as judge, jury, and executioner, dispensing justice according to their own whims and interests.
In this environment of lawlessness and exploitation, the Indian population suffered greatly, with countless lives lost and livelihoods destroyed. The lack of regulation allowed the Company to establish a system of oppression and exploitation that would have far-reaching consequences for India and its people.
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