A review of the book 'Dharmanomics: An Indigenous and Sustainable Economic Model' written by Sriram Balasubramanian.
Did Rajaraja Chola, who built the world-renowned Brihadisvara temple in Tanjore, and Suryavarman II of Kambuja Desa (Cambodia), who built the world’s largest temple complex, Angkor Wat, erect these enduring marvels with a magic wand? Surely not. How did they nurture prosperity? What were the economic models that enabled them to leave the world awestruck?
Sriram Balasubramanian’s sequel to the pathbreaking Kautilyanomics answers these questions by examining Common Era empires and kingdoms ranging from the Cholas, Pallavas, Pandyas and Vijayanagara to Southeast Asian kingdoms.
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Coming up: A review of the book 'Dharmanomics: An Indigenous and Sustainable Economic Model' written by Sriram Balasubramanian.
Namaste Friends. My name is 'Shinil Subramanian Payamal' and you are listening to the Historylogy podcast.
Before I proceed, a full disclosure: This book was bought with my own money and not been provided to me by the author or publisher.
Little bit about the author:
Sriram Balasubramanian is a well-known economist and bestselling author based at one of the leading international monetary institutions in the world. He has worked for several global organizations including the International Monetary Fund (IMF) in the past. His key areas of interest include global macroeconomics, economic history, socio-economic trends in emerging markets and iconic Indic and dharmic culture in the context of economics.
He has written for several international publications such as Bloomberg, Foreign Policy, Wall Street Journal and Vox EU as an independent columnist and has been an independent panellist on CNBC TV18.
Besides authoring the path-breaking bestseller Kautilyanomics for Modern Times, he has authored two other books, Jamba: The Joint Family (shortlisted for the Third Annual IAAC Literary Festival organised by the Indo-American Arts Council) and The Wizards (the US version), which has been featured in varied publications, including The Hindu.
He is an alumnus of Columbia University, New York. He lives in Washington DC/Maryland area in the USA with his family.
Let me read a brief description of the book:
QUOTE
Did Rajaraja Chola, who built the world-renowned Brihadisvara temple in Tanjore, and Suryavarman II of Kambuja Desa (Cambodia), who built the world’s largest temple complex, Angkor Wat, erect these enduring marvels with a magic wand? Surely not. How did they nurture prosperity? What were the economic models that enabled them to leave the world awestruck?
Sriram Balasubramanian’s sequel to the pathbreaking Kautilyanomics answers these questions by examining Common Era empires and kingdoms ranging from the Cholas, Pallavas, Pandyas and Vijayanagara to Southeast Asian kingdoms. Balasubramanian audaciously puts forward a novel, indigenous and sustainable framework called Dharmanomics—a function of Kautilyan Dharmic capitalism, of a Dharmic ecosystem driven by temples and Sreni (corporate guilds) Dharma—that spans thousands of years. It was put into practice much before the likes of Adam Smith and modern economic thinkers. It is a book for all ages—gutsy, thoughtprovoking and meticulously researched.
UNQUOTE
While historians have highlighted the role of Dharma in general, Sriram Balasubramanian recognised early that they never discussed it as the foundation for studying economic models and thinking in ancient times. This was not due to the lack of economic or financial competence of these historians, but due to their sheer contempt for the past, in general.
This book has eight chapters:
Chapter 1 is on Sreni Dharma
Chapter 2 is on Dharmanomics
Chapter 3 is on the Saraswati-Sindhu Civilization
Chapter 4 in on the Cholas—the grand empire that spanned many countires—and their economic framework.
Chapter 5 discusses the Pallavas, Pandyas and Vijayanagar Empire, highlighting and expanding some of the trends mentioned in the Cholas chapter.
Chapter 6 is on Kambuja Desa which is modern day Cambodia which details the origins of Indic rule, its roots in contemporary southern Bharat and its Dharmic core.
Chapter 7 is on other Dharmic Southeast Asian Kingdoms like Champa (modern-day Vietnam) and Java (Indonesia) along with Thailand, which have unique variations compared to the Cambodian model, yet have some important similarities.
Chapter 8 is based on Dharmanomics through 5,000 Years in which the author connects all the previous chapters and establishes the common connection of Dharmanomics in the kingdoms referred.
The story telling is very engaging and reader friendly with well-placed charts, maps, and flow diagrams helping to visualize the economic brilliance of dynasties like the Cholas and beyond.
Final Verdict:
Dharmanomics stands out as a rarity—a scholarly yet accessible work bridging ancient wisdom and modern policymaking. It crafts a dynamic framework on how Dharma shaped inclusive, sustainable economies long before Western economic theories emerged.
This book suits students and scholars of economic history along with policy makers and sustainability advocates and last but not the least, general readers curious about the fusion of culture, ethics, and economics. However, its academic density may limit its accessibility to a broader audience.
I give this book 4.25/5.
At the time of recording this book review, the book is available only in Paperback and Kindle formats. It is yet to be made available in Hardcover and Audible formats. And on Amazon USA it is available only in Kindle format. I have given the respective buy links in the show notes. Please check them out for the latest prices.
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