By T. Trautmann
A desirable window into the social and monetary constructions of the time, and into the intricacies of statecraft.
Ascribed to Kautilya (commonly pointed out because the best minister of Chandragupta Maurya) and relationship again greater than 2,000 years, the Arthashastra is the realm s first guide in political financial system. It has a pre- eminence in Indian inspiration that's similar to that of Machiavelli s The Prince in Europe.
Arthashastra (literally, 'the technological know-how of wealth ) is a learn of financial company; in particular, Kautilya s treatise advises the king at the enterprise of making prosperity. Arthashastra additionally addresses the query: what makes an excellent chief?
This publication is meant to be an creation to the commercial philosophy of the Arthashastra. Its objective is to examine the relevance of this vintage textual content in its personal time in an international within which kings have been regulators of monetary actions in their matters, 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 info for Arthashastra: The Science of Wealth: The Story of Indian Business
The more or less money you get for any commodity, in the London market for example, the more or less labour it will at that time and place enable you to purchase or command. At the same time and place, therefore, money is the exact measure of the real exchangeable value of all commodities. It is so, however, at the same time and place only. Though at distant places, there is no regular proportion Adam Smith ElecBook Classics The Wealth of Nations: Book 1 60 between the real and the money price of commodities, yet the merchant who carries goods from the one to the other has nothing to consider but their money price, or the difference between the quantity of silver for which he buys them, and that for which he is likely to sell them.
If, on the contrary, instead of sheep or oxen, he had metals to give in exchange for it, he could easily proportion the quantity of the metal to the precise quantity of the commodity which he had immediate occasion for. Different metals have been made use of by different nations for this purpose. Iron was the common instrument of commerce among the ancient Spartans; copper among the ancient Romans; and gold and silver among all rich and commercial nations. Those metals seem originally to have been made use of for this purpose in rude bars, without any stamp or coinage.
Silver would appear to be more invariable in its value than gold. Silver would appear to measure the value of gold, and gold would not appear to measure the value of silver. The value of gold would seem to depend upon the quantity of silver which it would exchange for; and the value of silver would not seem to depend upon the quantity of gold which it would exchange for. This difference, however, would be altogether owing to the custom of keeping accounts, and of expressing the amount of all great and small sums rather in silver than in gold money.