Economic Ideas of Kautilya

Economic ideas of Kautilya (Arthashastra)
Introduction:
Kautilya’s Arthashastra is the chief source of information. Kautilya’s name was Vishnu Gupta. He was a learned Brahmin. He is known by the name of Kautilya because he was an expert in diplomacy and political strategy. He was the chief minister of Chandra Gupta Maurya. He was responsible for getting Chandra Gupta the kingdom of Nand, after destroying its king. Kautilya has given vivid description of the administrative procedures, of the duties of kings, ministers and government officers, in his book. His Arthashastra is based on earlier treaties and is divided into fifteen chapters covering about 430 pages. He has acknowledged his debt to Shukracharya and Brahaspti. He has regarded economic as a continuous process. It covers almost every aspect of the theory and practice of economics. It also deals with the government of town and villages, law courts, rights of women, maintenance of the old and helpless, marriage and divorce, public finance, maintenance of army and navy, diplomacy, agriculture, spinning and weaving and a number of other subjects. His book contains ample ideas on a welfare state.
The Ideas of Kautilya:
Economic ideas of Kautilya can be broadly explained under the following topics:
 Nature and purpose of material wealth
 Varta
 Agriculture and Animal Husbandry
 Dignity of Labour
 Trade
 Public Finance
 Population
 Slavery
 Welfare State
 Social Security
 Interest:
 Price Control
 Socio-Economic Institutions
 Town Planning

Nature and Purpose of Material Wealth:
The term Artha (wealth) occupied an important place as one of the Purusharthas, in the system of economic thought during the Vedic Period. The concept of Varta (national economy) as understood by the Vedic seers and sages was the Artha or the material wealth or prosperity was essential for the stability and maintenance of the social structure and organization which provide means and opportunities to every individual for