Ancient Indian Economic Thought: Relevance for Today

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The study of ancient Indian economic ideas provides a deeper insight into India's culture, tradition, and inherent national characteristics. Many scholars, particularly during the first half of the 20th century, attempted to make an objective and unbiased evaluation of ancient Indian economic ideas, explicitly or implicitly, contained in ancient Indian writings xE2;€x94; particularly in Vedas, Arthasastra, the Ramayana and Mahabharata, Manusmriti, Sukraniti, and several other ancient Indian texts. This volume is an extremely timely publication. Countries are putting more and more emphasis on the use of indigenous knowledge and ideas in the development of their economies in a sustainable manner. The limitations of imported theories and technologies for economic development are becoming evident, especially for the low-income economies in the beginning of the third millennium. Ancient Indian Economic Thought: Relevance for Today deals with the two most well-known ancient Indian writings, Arthasastra and Manusmriti. Contents include: sources and essence of ancient Indian tradition --- agriculture and land use --- environment and ecology --- craft industries --- role of the state sector --- price policy --- taxation and fiscal policy --- women's property rights --- division of labor --- procedure of making a good ruler --- and globalization.