In a fascinating revisionist study of the English East India Company (EIC) in seventeenth-century India, the historian Philip J. Stern has pointed out how the EIC was by its very organization a government in its own right, deserving analysis on its own terms. He calls it the Company-State, a formation that came into being as part of an early modern empire that was itself constituted through sets of overlapping and competing political forms, of which the EIC was one.1 Stern reads against the grain of existing historiography on the EIC, which, he says, has led scholars to imagine its politics “as a subset of seventeenth-century English and European politics, political economy, and state formations.”2 Instead he argues that the EIC’s constitution was volatile, and allowed it a protean existence by balancing various forms of authority, leading it sometimes to claim that it was a “mere merchant” and at others an “independent sovereign.”
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