Explain the ancient Indian economic thought in view of needs.
Answers
Answer:
Economics in the classical age is defined in the modern analysis as a factor of ethics and politics, only becoming an object of study as a separate discipline during the 18th century.
Chulavamsa records that Parakramabahu I of Sri Lanka had debased the currency of ancient Sri Lanka in order to produce monies to support his large scale infrastructure projects.[43] Parakramabahu I also pioneered free trade during his reign; a war was fought with Burma to defend free trade.
Chanakya Edit
Chanakya (c. 350 BC-275 BC) considered economic issues. He was a professor of political science at the Takshashila University of ancient India, and later the Prime Minister of the Mauryan emperor Chandragupta Maurya. He wrote the Arthashastra ("Science of Material Gain" or "''Science of political economy" in Sanskrit). Many of the topics discussed in the Arthashastra are still prevalent in modern economics, including its discussions on the management of an efficient and solid economy, and the ethics of economics. Chanakya also focuses on issues of welfare (for instance, redistribution of wealth during a famine) and the collective ethics that hold a society together.