A review of the book 'Kautilyanomics: For Modern Times' written by Sriram Balasubramanian.
Kautilyanomics for Modern Times seeks to do three things—first, to provide a structure and a context for Kautilya’s economic thoughts; second, to examine his work’s relevance today; and third, to do it in a way that a lay reader can follow and grasp easily.
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Coming up: A review of the book 'Kautilyanomics: For Modern Times' 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 an economist and author based at one of the leading international monetary institutions in the world. His key areas of interest include global macroeconomics, economic history, socio-economic trends in emerging markets and Indic/dharmic culture.
He has contributed to many international publications such as Foreign Policy, Wall Street Journal, VoxEU and CNBC-TV18 as an independent columnist and commentator.
He is the author of 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). He has also been featured in podcasts by Bloomberg and interviewed by newspapers, including The Hindu and The New Indian Express, for his books and research work. He was an international junior chess player and is an alumnus of Columbia University, New York.
Let me read a brief description of the book:
QUOTE
India was an economic power to reckon with until its economic decline in the 18th century. What explains this long period of prosperity? The answer might lie in a framework of social and economic thought that lies buried in our ancient heritage, says Sriram Balasubramanian, of which Kautilya’s Arthashastra is a major example.
Kautilyanomics for Modern Times seeks to do three things—first, to provide a structure and a context for Kautilya’s economic thoughts; second, to examine his work’s relevance today; and third, to do it in a way that a lay reader can follow and grasp easily. Kautilya’s thought is mainly articulated through the prism of dharmic capitalism and its components—some examples include his views on global economic outlook, state-market dynamics, and sustainable growth through observance of environmental, societal and familial responsibilities.
Fathoming India’s rich economic and philosophical heritage and making use of it, Balasubramanian argues, would prove to be a great asset in the country’s ascent again.
UNQUOTE
One of the book’s key strengths is its ability to make Kautilya's complex ideas accessible to a broad audience. Balasubramanian has a knack for breaking down intricate concepts into digestible narratives, often relating them to modern economic dilemmas. He draws parallels between Kautilya’s teachings and contemporary issues like wealth inequality, the role of government, and market regulation.
The book’s greatest strength lies in its ability to distill timeless principles into actionable insights for modern policymakers, entrepreneurs, and business leaders. It presents Kautilya not just as a scholar of ancient times but as a strategic economist whose teachings hold relevance even in a world dominated by technology, globalization, and complex international relations.
The book does a great job of explaining terms like Kautilyan Dharmic Capitalism and Hindu rate of growth in a very easy to understand manner.
The book includes an insightful introduction by Bibek Debroy, which sets the tone for a journey through ancient and modern economic thought.
Conclusion:
"Kautilyanomics: For Modern Times" is an essential read for anyone keen on understanding India's economic heritage and its potential application today. Balasubramanian has successfully created a narrative that is neither patronizing nor overly academic, making it an excellent addition to the library of anyone interested in economics, history, or the philosophical underpinnings of economic systems.
This book not only educates but also encourages a reevaluation of economic thought from an Indic perspective, which has often been overshadowed by Western economic theories. It's a testament to the enduring relevance of Kautilya's ideas in modern economic discussions.
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. I have given the respective buy links in the show notes. Please check them out for the latest prices.
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