By T. Trautmann

A desirable window into the social and financial constructions of the time, and into the intricacies of statecraft.

Ascribed to Kautilya (commonly pointed out because the major minister of Chandragupta Maurya) and courting again greater than 2,000 years, the Arthashastra is the area s first guide in political financial system. It has a pre- eminence in Indian idea that's comparable to that of Machiavelli s The Prince in Europe.

Arthashastra (literally, 'the technological know-how of wealth ) is a research of financial firm; particularly, Kautilya s treatise advises the king at the enterprise of making prosperity. Arthashastra additionally addresses the query: what makes a very good chief?

This publication is meant to be an advent to the industrial philosophy of the Arthashastra. Its aim is to examine the relevance of this vintage textual content in its personal time in an international during which kings have been regulators of monetary actions in their topics, but additionally marketers themselves within the conviction that it has a lot to coach us that has price in our personal age.

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Extra resources for Arthashastra: The Science of Wealth: The Story of Indian Business

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However, it needs to be remembered that comparative advantage is a dynamic concept. As it changes, some industrial and services sectors will be rendered uncompetitive in the mature industrial economies and will face the same future that the “sunset” industries of the yesteryears did. 18 Comparing the comparables This is a part of the organic process of economic growth and needs to be accepted as such. Furthermore, manufacturing’s share of total US employment was on the decline for almost five decades.

India launched its much-needed structural reforms later, in July 1991. Even in 1980, the two countries were widely regarded as “impoverished” and grouped with the poorest economies of the world in various statistical tables prepared by supranational organizations. India’s population was 687 million, 300 million fewer than China’s. Living standards, as measured by purchasing power per capita, were nearly the same.

India was poorly able to defend itself from the brawny and battle-seasoned armies of the Turko–Afghan Muslims because it never consolidated a strong national political identity that could be rallied against them, or to expel them once they 8 Comparing the comparables were inside the country. The local kings did not unite in defense, and had also grown soft and effete. They were more interested in art, poetry and literature and neglected to build strong armies. The economic price they paid was devastatingly heavy.

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