BANANALOGIA

The East India Company

"...The colonization of India provides a useful example. P.W. Warner, in his book “Corporate Warriors” (Cornell University Press, 2003), describes the rule of the trading companies.

In 1599, the English East Indies Company began its vast colonial plunder in Asia. In 1602, the Dutch capitalists formed the Dutch East India Company to challenge British plans to acquire hegemony in the region. Technically, under the license from their home governments, these companies not only monopolized trade in gold, spices, opium, silk, Chinese porcelain and other goods, they also took control of territories with huge armies and navies that were in fact larger than the British or Dutch official armies and navies.

By 1782, the English East India Company army was made up of more than 100,000 soldiers, all mercenaries—far larger than the British army at the time. The Dutch company armed forces grew to more than 25,000 full-time soldiers and an armada of 140 ships.

The companies had a monopoly position in trade and assumed all the “normal” state functions of sovereign countries. The Universal Dictionary of 1751 wrote: “One of the reasons why the Dutch East India Company flourishes, and has become the richest and most powerful … [is because it] makes peace and war at pleasure, and by its own authority; administers justice to all … settles colonies, builds fortification, levies troops, maintains numerous armies and garrisons, fits out fleets, and coins money..."

The Evolution of the Modern Capitalist State

"The East India Companywas a London-based trading organization. It acted as the vehicle for British commercial and imperial expansion in Asia. For more than two centuries, until its demise in the aftermath of the Indian Mutiny (1857-59), it dominated both trade and Empire.

Trading giant
Today, not even the most powerful firm can compare in terms of longevity and wide-ranging economic, political and cultural influence. At one time, a tenth of the British exchequer's revenue came from customs duties on the Company's imports. Its armed forces were bigger than those of most nation states. Without it there would have been no British Empire.

Influence on London
The Company also played a leading role in London's commercial, cultural and political life.
Its employees included tradesmen, manufacturers, shipbuilders, soldiers, seaman, dock labourers, warehousemen and clerks. The Company itself had a huge influence on the development of the port of London. It was responsible for the establishment of docks, warehousing and even roads.The 'East India' lobby was a powerful voice in London's business and political life. Events at the Company's headquarters in the City were always watched closely by a suspicious Parliament uneasy about its power and influence.For centuries, the Company held a monopoly of trade with the east. Its sole trading rights were always a source of controversy and were eventually revoked by Parliament..."