Money, Trade, and the Mughal Economy

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ID: 321980
2026
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Abstract
Abstract The monetization of the Mughal economy was the product of four major factors: political unification of a large territorial nexus with cities, markets, and entrepots; standardized tri-metallic currency backed by monetized taxation and regular mint production; absorption of large quantities of Spanish-American silver into the economy; and, most importantly, manifold mercantile practices that facilitated the exchange of goods, services, and obligations for money. Monetization was not uniform everywhere and there were peaks and troughs across regions and time. Also, a large portion of the economy conducted transactions using verbal and other traditional means of which historians can catch only a tiny glimpse. Based on an overwhelming body of literary and numismatic evidence, the argument of this chapter is that the use of money increased in the sixteenth and seventeenth centuries even in areas that were somewhat autarchic. The lively debate on the impact of increased monetization on the Mughal economy and distribution of wealth among social groups is also included.
Reference Key
openalex_W7170089066 Use this key to autocite in the manuscript while using SciMatic Manuscript Manager or Thesis Manager
Authors Najaf Haider
Journal Oxford University Press eBooks
Year 2026
DOI
10.1093/oxfordhb/9780190222642.013.25
URL
https://doi.org/10.1093/oxfordhb/9780190222642.013.25
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