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By Ajit K. Dasgupta
The historical past of Indian financial suggestion presents wealthy insights into either fiscal concerns and the workings of the Indian brain. A heritage of Indian financial suggestion presents the 1st review of financial proposal within the sub-continent. Arguing that it'd be irrelevant to depend on formal monetary analyses it attracts on a variety of assets; epics, spiritual and ethical texts for the early interval and public speeches, addresses, and newspaper articles for controversies from the 19th century onwards. What emerges is a wealthy mosaic reflecting India's varied cultures and civilizations. Hinduism, Buddhism and Islam all handle financial concerns and British colonial rule had a deep effect, either in propagating Western financial principles and in frightening Indian theories of colonialism and underdevelopment. the writer concludes with chapters on Ghandian economics and on Indian fiscal proposal seeing that Independence.
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Extra resources for A History of Indian Economic Thought (Routledge History of Economic Thought)
Sample text
State goods, (rajapanya) are classified into two distinct categories— svabhumija, indigenously produced, or parabhumija, produced in foreign lands. The latter implies that the state was to engage in import trade as well. Indigenous goods belonging to the state were to be sold in one place, presumably the capital city, where all state stores were located. Imported goods were to be sold in a number of centres. In both cases, the interests of customers were to be taken into account in the fixing of the selling price.
181). How far Adam Smith’s approach to economics was truly cosmopolitical is questionable. Although Smith’s study was on the wealth of nations, the wealth of a particular nation, his own, was never far from his mind, a point which List himself notes elsewhere. More important, it is the national approach to economic analysis which quickly became dominant. This, thought Knut Wicksell (1958:63), was not good enough, for the ‘more or less temporary geographical boundaries of states’ did not properly define the society with whose welfare economics should be concerned.
The state was to help settlers with seeds, cattle and even cash, so that the land could be reclaimed. 10–14). 15–18). That agricultural land was privately owned is also borne out by a number of legal provisions stated in Book 3 of the Arthasastra (Concerning Judges). Thus, the owner of the field (ksetrika) was distinguished from the tenant (upavasa). 8). If there was a dispute regarding the boundaries between two adjacent fields, and neither party could prove its claim, the disputed portion was to go to the state.