Kautilya's Arthashastra by Kautilya

Kautilya, also known as Chanakya, was a prominent political economist in India's history. He believed that economic activity was the backbone of any political system and that revenue generation should be a top priority over maintaining an army. According to Kautilya, taxation should be limited, with gradual increases and a well-structured system to ensure compliance. He also emphasized the importance of foreign trade, stressing that it should be mutually beneficial for all parties involved. Kautilya also advocated for state control and investment in land, water, and mining. His philosophy of political economy, with its emphasis on good governance and checks and balances, remains relevant in modern times.