Progenitor to Classical Economics “KAUTILYA’S ARTHSHSTRA” Socio, Economic and Development thoughts of Kautilya’s Arthashastra relevant to Business Schools

Abstract

Most of the MBA Colleges and Business Schools are not imparting Arthashastra, karmalessons apart from the formal courses, case studies and classwork on finance, marketing, accounting and economics’-B-School students in India deserve to learn about Kautilya’s Arthashastra, an ancient treatise on statecraft, economic policy and military strategy.

“The scandals like Sahara, Satyam, Chit fund Scams, Kingfisher Airlines and Nirav Modi, further increasing trend of wilful loan defaulters to banks, huge deposits made by a few business firms/ individuals during demonetisation expose the weak foundations of ethics and values in Indian business scenarios,” therefore Business Schools must come forward to teach beyond Business Ethics i.e.., Karma Lessons and Socio Economic Development process as mentioned in Arthashastra. This article highlights Socio, Economic and Development thoughts of Kautilya’sArthashastra that is relevant to Business Schools.