Syed Ali Nadeem Rezavi

Shireen Moosvi, Economic History of Mughal India: Collected Essays, Vols. I–II. New Delhi: Primus Books, 2026.
The publication of the first two volumes of Shireen Moosvi’s Economic History of Mughal India: Collected Essays provides an appropriate occasion to assess not merely the essays now brought together but the larger scholarly achievement of one of India’s foremost economic historians. Volume I contains nineteen essays extending across numismatics, trade, shipping, regional economic profiles and the problem of capitalism; Volume II brings together seventeen essays dealing with imperial revenue administration, monetary systems, land revenue and rights, and urban economic development under Akbar, Shahjahan and Aurangzeb. They form the first two instalments of a projected four-volume collection of Moosvi’s writings.
Read alongside The Economy of the Mughal Empire, c. 1595: A Statistical Study, Episodes in the Life of Akbar: Contemporary Records and Reminiscences, and People, Taxation, and Trade in Mughal India, these volumes reveal something more significant than the range of an individual historian. They document the development of a particular conception of economic history: one in which Persian textual scholarship, quantitative analysis and a materialist understanding of social relations are brought together in an attempt to reconstruct the workings of a pre-modern economy.
Moosvi belongs unmistakably to the intellectual tradition associated with the Centre of Advanced Study in History at Aligarh Muslim University. Mohammad Habib, S. Nurul Hasan, Irfan Habib, M. Athar Ali and Iqtidar Alam Khan had, in different ways, helped shift Mughal history away from dynastic narrative towards the investigation of institutions, agrarian relations, social classes and structures of power. But intellectual traditions become historically important not because succeeding generations merely reproduce them, but because individual scholars find within them new questions and methods. Moosvi did precisely that.
Her distinctive contribution arose partly from an unusual intellectual formation. She came to history not through the conventional path of a humanities scholar but as a trained statistician, having completed her MSc from Lucknow University. This background equipped her with a mathematical rigour and a scepticism towards unsupported generalisations that few historians of pre-colonial India possessed. Later, a fellowship at Bellagio allowed her to study counterfactual history under leading practitioners, which sharpened her sensitivity to alternative possibilities and the contingent nature of economic outcomes. These twin influences – statistical precision and counterfactual reasoning – gave her work a methodological edge that distinguished it from both orthodox economic history and purely narrative accounts.
If Irfan Habib’s The Agrarian System of Mughal India demonstrated what could be recovered about production, agrarian relations, revenue extraction and rural society through an intensive interrogation of Persian sources, Moosvi pushed the enquiry in a direction few had attempted systematically: could the Mughal economy actually be measured?
From the Āʾīn-i Akbarī to an Economy
The fullest expression of this ambition was The Economy of the Mughal Empire, c. 1595, first published in 1987 and substantially revised for its second edition. Oxford University Press rightly describes it as a pioneering attempt to apply quantitative analysis to the pre-colonial Indian economy; the revised edition added, among other things, an estimate of GDP. The ambition of the original book was extraordinary. Its chapters moved from an examination of the statistics and their sources through the extent of cultivation and agricultural productivity to land-revenue demand and realisation; revenue grants and the zamindars’ share of agrarian surplus; imperial income, mansabdar salaries, military and household expenditure and the diffusion of surplus; and finally urbanisation, prices, wages, money, credit, foreign trade and population.
The importance of the work did not lie simply in producing numbers. Its methodological achievement lay in demonstrating how difficult it was to produce numbers that possessed historical meaning. The Āʾīn-i Akbarī was not a modern statistical abstract. Moosvi therefore subjected its quantitative material to the same kind of source criticism that historians normally apply to narrative evidence. She examined manuscript readings, recalculated totals, identified chronological inconsistencies and investigated precisely what administrative categories represented. Against Moreland’s description of the Āʾīn as essentially a hastily assembled collection of official material, she drew attention to Abu’l Fazl’s care in presenting quantitative information. At the same time, she refused simply to accept all the figures at face value.
Where manuscript figures differed substantially, she acknowledged the uncertainty and restricted the conclusions that could be drawn from them. She also insisted that the Āʾīn could not be understood in isolation. The Akbarnāma, Bayazid Bayat, Nizamuddin Ahmad, Badauni, Mutamad Khan and European testimony were required to clarify institutions, administrative terminology and the meaning of particular statistics. This combination of philology and statistics became one of the distinguishing features of Moosvi’s scholarship.
It also enabled her to ask questions of an order rarely attempted for sixteenth-century India. What proportion of the agrarian surplus was appropriated? How much reached the ruling class? What proportion was consumed through the imperial establishment? How large might the urban population have been? What relationships existed between money supply, prices and credit? What impact did overseas trade have upon internal production? Some calculations inevitably required assumptions. Yet Moosvi normally exposed those assumptions to scrutiny. The historian could therefore disagree with the multiplier or estimate without having to reject the entire enterprise. That remains an important virtue of her work.
From Structures to People
If The Economy of the Mughal Empire established the quantitative foundations of Moosvi’s scholarship, People, Taxation, and Trade in Mughal India demonstrated how widely those methods and questions could subsequently be extended. The collection is divided across a striking range of subjects: economic experience; silver influx, money supply, prices and interest rates; ecology, demography and gender; revenue administration and imperial finance; the economic consequences of Mughal expansion into the Deccan; agrarian crisis; and finally shipping, ports and the commercial world of Gujarat.
The title itself is revealing: people, taxation and trade. Economic history here is not simply the history of the state’s revenue. Nor is it reduced to merchants and markets. Moosvi continually attempts to connect economic structures with the lives of the people inhabiting them. Population and settlement matter; so do women’s work and labour. Fiscal policies matter, but so do scarcity, prices and exploitation. Ports matter not simply as nodes in international trade but as communities inhabited by merchants, sailors, artisans and others.
Her essay on work and gender is especially important in demonstrating how far her economic history could travel beyond the conventional subjects of revenue and currency. The visual material itself is revealing: women fetching water, spinning, breaking stones and sieving material for lime-making, carrying bitumen during the construction of Agra Fort, and a girl at school all form part of the evidence assembled for understanding work and gender. Such investigations complicate the stereotype of an older Marxist historiography concerned exclusively with impersonal structures. For Moosvi, structure ultimately consists of relationships among people.
Money, Markets and the Wider World
Another major strand running through the older collections and now particularly visible in the Primus volumes concerns money. Coins for Moosvi are not merely numismatic objects. Mint output can become evidence for monetary circulation; changes in precious-metal flows can illuminate movements in prices; interest rates can provide clues to credit conditions; imported bullion can be related to India’s position within international commerce. This necessarily carries Mughal history beyond the territorial boundaries of the empire.
The silver arriving in India originated in global circuits. European trading companies provide some of the documentation, but Moosvi is careful not to allow the abundance of European records to distort the historical picture. Her work on Gujarat, for example, recognises that English and Dutch bullion imports represented only part of the precious metals entering India, with the Red Sea and Persian Gulf trades remaining important. Her treatment of foreign commerce in The Economy similarly attempts to calculate its relationship with domestic production. In the revised reconstruction, foreign trade generated a significant proportion of the value added by urban manufactures, with textiles forming the principal export and bullion and horses among the major imports.
Yet Moosvi never permits commercial expansion automatically to become evidence of an impending capitalist transformation. That distinction is fundamental to her economic history. The existence of prosperous merchants, extensive markets, sophisticated credit and substantial commodity production demonstrates commercialisation. For Moosvi, it does not by itself establish capitalism. The crucial questions concern the organisation of production, the appropriation and deployment of surplus, labour relations and whether accumulated wealth was systematically converted into productive capital.
Her attempt to reconstruct the consumption of the Mughal ruling class is especially interesting in this respect. She asks whether the enormous rural surplus appropriated by the state and nobility generated demand for manufactured commodities or primarily sustained a large service sector. The conclusion bears directly upon the question of why commercial expansion did not necessarily produce a transition towards capitalism. The Primus volumes consequently place Moosvi within one of the largest historiographical debates concerning early-modern India: whether the subcontinent before colonial rule possessed tendencies towards autonomous capitalist development. Her answers may be debated. The importance lies equally in the precision with which the problem is formulated.
Land and Sea
Moosvi’s interests in trade also enabled her to challenge another inherited assumption: that the Mughal Empire, being overwhelmingly dependent upon agrarian revenue, was essentially indifferent to maritime activity. Her essay on shipping under Akbar begins precisely with this historiographical proposition. She does not deny the fundamentally continental character of Mughal power. Instead she asks whether that generalisation adequately describes the actual behaviour of Akbar and his nobility.
The evidence complicates the conventional picture. Akbar personally encountered the maritime world after the conquest of Gujarat, visited Cambay, travelled on a vessel and personally directed the reduction of Surat. Moosvi then investigates Mughal shipping and imperial attitudes towards navigation rather than assuming that dependence upon agrarian revenue necessarily implied indifference to maritime commerce. The method is characteristic. A large historical generalisation is neither casually rejected nor respectfully repeated. It is tested against evidence.
Another Moosvi: Episodes in the Life of Akbar
The danger in describing Moosvi principally as a quantitative economic historian is that another important dimension of her scholarship disappears. Episodes in the Life of Akbar offers perhaps the best corrective. It is an unusual book. Rather than write another continuous biography of Akbar, Moosvi selected contemporary descriptions, reminiscences and eyewitness accounts, predominantly from Persian sources, translated or revised their translations, and supplied the historical context necessary to understand them.
Her Preface explains the conception succinctly. Because Akbar was unusually accessible and because of his own interest in history, he became one of the most intimately documented individuals in pre-modern India. Moosvi therefore preferred eyewitness testimony wherever possible so that readers might encounter not only Akbar himself but something of what the times were like. This book reveals the historian behind the statistician.
Consider her treatment of Akbar’s administrative measures of 1574-75. Rather than supply a synthetic account alone, she places Abu’l Fazl’s official interpretation alongside Badauni’s hostile version. Both required fresh translation because technical administrative terminology could materially alter their meaning. The result is not an uncomplicated celebration of Akbar. When Abu’l Fazl is biased, Moosvi says so. When Badauni is hostile, that hostility becomes part of the evaluation of his evidence. When earlier translations obscure technical meanings, she revises them. And when competing witnesses disagree, the reader is permitted to see the disagreement.
The selections themselves range from Akbar’s childhood, hunting and elephant fights to the consolidation of central authority, administrative experiments, religious debates, encounters with Jesuits, translations of Sanskrit works and reflections attributed to the emperor. At the end, Moosvi presents a checked and corrected selection of Akbar’s sayings preserved by Abu’l Fazl. Among them appear striking affirmations of reason and demands for evidence rather than credulous acceptance of extraordinary claims. Episodes consequently tells us something important about Moosvi’s historical method. Numbers never displaced texts. Indeed, her ability to quantify the Āʾīn-i Akbarī depended upon precisely the textual sensitivity displayed in Episodes.
The State and the Surplus
Across these works, one concept repeatedly binds together apparently disparate subjects: surplus. Agricultural production generates it; revenue institutions appropriate it; zamindars claim portions of it; mansabdars receive it; imperial households consume it; towns absorb it; artisans benefit from some forms of elite demand; and merchants participate in the movement of commodities produced within the economy. The Mughal state is therefore neither simply a political superstructure nor merely a revenue-collecting machine. It occupies a central position in the circulation and redistribution of economic resources.
This is where Moosvi’s Marxist inheritance is clearest. But her Marxism operates most effectively as a set of questions rather than a substitute for evidence. Who produces? Who appropriates? How much? Through what institutions? Where does the appropriated surplus go? What economic activities does its expenditure encourage? These questions convert abstractions about class into empirically investigable historical relationships.
The Problem of Precision
The most obvious criticism of Moosvi’s work also arises from its greatest methodological innovation. Can sixteenth- and seventeenth-century evidence really sustain calculations of population, agricultural output, urbanisation, sectoral distribution or income with the precision sometimes suggested by quantitative reconstruction? There must inevitably be doubts. The evidence is incomplete, uneven and produced for purposes entirely different from those of modern economic statistics. A figure generated from several assumptions may acquire, when placed in a table, an appearance of certainty that the original evidence does not possess.
But two qualifications are necessary. First, Moosvi is unusually alert to the problem. She identifies manuscript discrepancies, recalculates figures and explicitly limits the uses to which particularly uncertain data can be put. Secondly, an estimate whose assumptions are visible is intellectually preferable to an impression whose assumptions remain concealed. One can dispute Moosvi’s population estimate, alter a conversion factor or challenge a calculation of surplus. Precisely because the reasoning has been made explicit, the argument can be tested. That is a major scholarly achievement.
The Primus Volumes and a Career Seen Whole
This is where the publication of Economic History of Mughal India acquires significance beyond republication. An article written decades ago inevitably belongs initially to a particular controversy. Gathered together, such articles reveal patterns that may not have been apparent when they first appeared. Volume I‘s juxtaposition of numismatics, trade, shipping, regional economies and capitalism makes visible Moosvi’s continuing concern with the relationship between money, markets and production. Volume II‘s essays on revenue administration, monetary systems, landed rights and urban economies reveal the complementary relationship between state, surplus and society.
And People, Taxation, and Trade supplies the bridge between these two worlds. Its seventeen essays range from quantitative economic experience, silver and interest rates through ecology, population and women’s work to Todar Mal, Shahjahan’s financial policies, Aurangzeb, the Deccan, agrarian crisis, shipping and Surat. What initially looks like remarkable diversity therefore possesses an underlying coherence. Moosvi has spent much of her career asking how resources moved through Mughal society. They moved from cultivator to zamindar and state; from treasury to mansabdar and imperial establishment; from countryside to town; from merchant to artisan; from overseas bullion flows into Indian mints; from elite consumption into craft production and services. Economic history, in this conception, is ultimately the history of these movements and of the social relationships governing them.
Shireen Moosvi and the Aligarh Tradition
The new collections also permit a more precise assessment of Moosvi’s relationship with what has conventionally been called the Aligarh School. There is an obvious intellectual genealogy. Mohammad Habib’s concern with social formations, Nurul Hasan’s work on agrarian relations, Athar Ali’s reconstruction of the Mughal nobility and Irfan Habib’s analysis of the agrarian system collectively transformed the questions asked about medieval India. Moosvi belongs to this transformation. But she should not simply be placed in Irfan Habib’s shadow. If Habib’s Agrarian System reconstructed the relations surrounding agricultural production and extraction, Moosvi attempted something somewhat different: to estimate the dimensions and proportions of the economy generated by those relations.
That required a methodological apparatus distinctly her own. Statistics, cartography, numismatics, fiscal documents, Persian chronicles, European commercial records and later comparative material could all become evidence within the same investigation. The result was neither conventional economic history nor simply an extension of agrarian history. It was an attempt at a quantitative social history of a pre-modern empire. There is also a quality shared with the best scholarship of the Aligarh tradition that deserves emphasis: an unwillingness to allow the scale of the argument to reduce the density of the evidence. The questions may be very large (capitalism, economic growth, imperial crisis, population), but the argument repeatedly returns to a coin hoard, manuscript variant, revenue figure, Persian technical term or shipping record.
Why These Essays Matter Now
The publication of these collected essays comes at an interesting historiographical moment. Over recent decades Mughal studies have expanded enormously. Historians have investigated kingship and political culture, gender, household, literature, language, emotions, art, architecture, religious identities, courtly practices, environmental history and the representation of sovereignty. Much of this scholarship has transformed our understanding of Mughal India. But historiographical expansion should not become historiographical substitution.
The questions posed by Moosvi have not disappeared. How much agricultural surplus was extracted from the countryside? How was it distributed? What were the living conditions of producers? What happened to wages and prices? How extensive was monetisation? How large were India’s towns? How important was overseas commerce to domestic production? What kinds of labour sustained manufacturing and construction? What was women’s contribution to production? How were commercial wealth and political power related? Why did an extraordinarily sophisticated commercial economy not necessarily generate capitalist relations of production? These are not old questions simply because they were asked several decades ago. Nor can they be answered solely through the study of discourse and representation. Empires require resources. Courts require revenues. Armies have to be paid. Buildings require labour. Cities require food. Artisans require markets. Merchants require credit. Peasants confront demands upon their produce. Moosvi’s scholarship continually reminds us of this material foundation of historical life.
An Achievement in Perspective
It would nevertheless be inappropriate to turn the publication of collected writings into an exercise in commemoration alone. Moosvi’s interpretations should continue to be questioned. The increasingly sophisticated literature on early-modern global economic history has changed some of the contexts in which questions about Indian commercialisation and capitalism are posed. Regional studies have complicated any single model of the Mughal economy. Environmental history has drawn attention to ecological variables insufficiently integrated into earlier economic models. Histories of labour have uncovered relationships difficult to capture through aggregate calculations. Comparative work on standards of living and the Great Divergence has generated new methods as well as new controversies.
Moosvi’s own work, however, anticipated some of these directions more than is sometimes recognised. Ecology, population, women’s work, regional variation and global bullion movements were already part of her economic history. And the proper measure of an important historian is not whether every conclusion survives unchanged. It is whether subsequent scholarship must continue to confront the questions and evidence that historian placed before it. By that standard, Moosvi’s achievement is considerable.
The Economy of the Mughal Empire, c. 1595 demonstrated that the pre-colonial Indian economy could be subjected to quantitative investigation of remarkable ambition. The book explicitly set out to test received impressions against quantified data and ranged from population and agricultural production to class expenditure, urbanisation, consumption, prices, interest and foreign commerce. Episodes in the Life of Akbar demonstrated that the same historian was capable of handling narrative evidence with sensitivity to language, authorship, bias and contradiction. People, Taxation, and Trade widened the enquiry from a reconstruction centred upon c.1595 towards economic processes operating across the seventeenth century and beyond, incorporating people, gender, environment, regions and maritime commerce. The new Primus volumes now enable these investigations to be viewed retrospectively as components of a single, remarkably sustained intellectual enterprise.
The Measure of Moosvi
Perhaps the most appropriate word with which to characterise Shireen Moosvi’s scholarship is measure. She measures in the literal sense: acreage, revenue, population, wages, prices, silver, expenditure, urbanisation and trade. But she also measures evidence. How reliable is Abu’l Fazl? What does a particular Persian administrative term actually signify? Can two manuscript readings be reconciled? Does a European traveller’s figure correspond with indigenous evidence? Can a generalisation inherited from Moreland survive comparison with new data? Does the existence of extensive commerce justify speaking of capitalism?
That second kind of measurement is ultimately more important than the first. It explains why her scholarship cannot adequately be characterised simply as statistical history. The numbers are instruments for recovering relationships among people, resources and institutions. The publication of Economic History of Mughal India: Collected Essays therefore performs an important service. It makes available a substantial body of scholarship, but more importantly it allows us to see the contours of a historian’s intellectual life.
Within the larger Aligarh tradition, Shireen Moosvi developed a recognisable historical practice of her own: empirically exacting, quantitatively adventurous, materialist in explanation, sceptical of easy generalisation and remarkably willing to extract historical meaning from evidence that initially appears incapable of answering the questions being put to it. Not every estimate will endure. Nor should it. Economic history advances through recalculation as much as reinterpretation. But after The Economy of the Mughal Empire, it became considerably harder to speak about the Mughal economy without asking how much. After People, Taxation, and Trade, it became harder to discuss those quantities without asking who produced, paid, worked, traded and benefited. And Episodes in the Life of Akbar reminds us that behind both questions lies another: what does the evidence actually permit us to say?
The first two Primus volumes bring these strands together. They are therefore more than collections of previously scattered essays. They provide an opportunity to recognise the cumulative achievement of Shireen Moosvi as one of the major historians of the economy and society of Mughal India, a scholar who taught us not simply to describe that economy, but to attempt to measure it, and then to ask what those measurements tell us about the people who lived within it.











