Answer to Question #192669 in Macroeconomics for Tina

Question

India is poor today may be due to - i. the poor institutions setup by the colonial rulers, or ii. due to the heavy extraction of resources by the colonial ruler. Which argument do you think correct? Justify your answer in not more than 500 words.

Answer 1

India is poor due to due to the heavy extraction of resources by the colonial ruler,they experienced economic exploitation of resources since the rulers would take the valuable resources for their own and leave the Indian citizens poor leading to poor living standards in India.