By Rana Dasgupta
Capital is a compelling biography of a seriously very important megacity, and the results of unexpected and all-consuming capitalist transformation.
At the flip of the twenty-first century acclaimed novelist Rana Dasgupta arrived within the Indian capital with a unmarried suitcase. He had no purpose of staying for lengthy. however the urban beguiled him - he fell in love and in hate with it - and, fourteen years later, Delhi has develop into his home.
Capital tells the tale of Delhi's trip from walled urban to global urban. it's a tale of utmost wealth and gear, of land grabs and a cityscape replaced nearly past attractiveness. every thing that was once gradual, intimate and idiosyncratic has develop into speedy, immense and familiar; each point of existence has been affected - for the bad, the center periods and the super-rich.
Through a chain of attention-grabbing own encounters Dasgupta takes us contained in the intoxicating, occasionally terrifying transformation of India's fastest-growing megacity, supplying an brilliant 'report from the worldwide future'.
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Extra info for Capital: A Portrait of Twenty-First Century Delhi
The city’s commercial banks played a role in each of these developments, discounting merchants’ notes, putting dividends in the accounts of shareholders who invested them in trade, and renewing loans for businessmen engaged in long-distance commerce. Those banks, moreover, were helping to turn Wall Street into the city’s ﬁnancial center. In 1793 the new Tontine Coﬀee House at the corner of Wall and Water Streets had replaced the Merchant’s Coﬀee House as the city’s mercantile exchange and the site where brokers traded bank and government paper.
It is our sport to agonize employed by the rise of industrial production them. ” But methods. Waterman Ormsby himself acquired whether or not he took bribes, Thompson’s a reputation for supplementing his legitimate careers as a publisher and as a note broker were work by engraving counterfeits. Furthermore, rife with conﬂicts of interest. In general, bank the easy availability of used plates and dies sold note reporters proﬁted from the ﬁnancial chaos 44 MAKING MONEY uu The Marble Manufacturing Company of the City of New York Twenty-Dollar Note, 1826.
9 tion, it was hard to tell what was real and what As workshops and artisans gave way to was not. By the 1850s, counterfeiters produced factories and wage laborers in the rapidly indus- currency often as technologically advanced and trializing city, some New Yorkers discovered widely circulated as legitimate bank notes. The that banks were not the only ones who could put New York City engraver Waterman Ormsby had money into circulation. In the slums of the Five come to believe that only by abandoning indus- Points and the dance halls and saloons of the trial production completely could the bank note Bowery, counterfeiters ﬂourished, often employ- industry halt the rapid proliferation of coun- ing the same engravers as legitimate bank note terfeit currency.
Capital: A Portrait of Twenty-First Century Delhi by Rana Dasgupta