Debate continues about the economic impact of British imperialism on India. The issue was actually raised by conservative British politician Edmund Burke who in the 1780s vehemently attacked the East India Company, claiming that Warren Hastings and other top officials had ruined the Indian economy and society. Indian historian Rajat Kanta Ray (1998) continues this line of attack, saying the new economy brought by the British in the 18th century was a form of "plunder" and a catastrophe for the traditional economy of Mughal India. Ray accuses the British of depleting the food and money stocks and imposing high taxes that helped cause the terrible famine of 1770, which killed a third of the people of Bengal.[56]
Rejecting the Indian nationalist account of the British as alien aggressors, seizing power by brute force and impoverishing all of India, British historian P. J. Marshall argues that the British were not in full control but instead were players in what was primarily an Indian play and in which their rise to power depended upon excellent cooperation with Indian elites. Marshall admits that much of his interpretation is still rejected by many historians.[57] Marshall argues that recent scholarship has reinterpreted the view that the prosperity of the formerly benign Mughal rule gave way to poverty and anarchy. Marshall argues the British takeover did not make any sharp break with the past. The British largely delegated control to regional Mughal rulers and sustained a generally prosperous economy for the rest of the 18th century. Marshall notes the British went into partnership with Indian bankers and raised revenue through local tax administrators and kept the old Mughal rates of taxation. Professor Ray agrees that the East India Company inherited an onerous taxation system that took one-third of the produce of Indian cultivators.[58]