India in Mughal times (sixteenth to early eighteenth century). First, the terms on which labour was rendered, taking perfect market conditions as standard; and, second, the perceptions of labour held by the higher classes and the labourers themselves. As to forms of labour, one may well describe conditions as those of an imperfect market. HOPE TIS WORKED
Slave labour was restricted largely to domestic service. Rural wage rates were depressed owing to the caste system and the “village community” mechanism. In the city, the monopoly of resources by the ruling class necessarily depressed wages through the market mechanism itself.
