the East India Company – the first great multinational corporation, and the first to run amok – was the ultimate model for many of today’s joint-stock corporations. The most powerful among them do not need their own armies: they can rely on governments to protect their interests and bail them out. The East India Company remains history’s most terrifying warning about the potential for the abuse of corporate power – and the insidious means by which the interests of shareholders become those of the state. Three hundred and fifteen years after its founding, its story has never been more current.
- William Dalrymple’s new book, The Anarchy: How a Corporation Replaced the Mughal Empire, 1756-1803, will be published next year by Bloomsbury & Knopf
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