![]() ![]() As a result, a successful economics student, in her role as consumer, producer, government or householder will be effective atresource allocation, resource management and also at establishing resource self-sufficiency. Therefore, the study of economics, which is based on logic, reason, problem solving, circumstantial awareness and evidence, equips any student to not only comprehend human behaviour, decisions and reactions but also be able to recognize resources as scarce in relation to human needs. You may be thinking of arthashastra as a verb or as a noun, but it can also mean to walk, and can also mean to play with. The book is basically a treatise on the art of government. Shamasastry, who published it in 1909 and later translated the text to English. It can mean to find out what youre talking about, or to make a conversation, or to feel, or to look at. The Arthashastra was widespread until the 12th century when it disappeared. The mind of an economics student, when trained in the principles such as those enshrined in The Arthashastra, becomes increasingly observant to the facts and truths of any phenomenon. arthashastra is a word you will hear a lot in English. Many centuries later, economist Adam Smith, in his book The Wealth of Nations published in 1776, identified land, labour, and capital as the three factors of production and the major contributors to a nation's wealth, this was distinct from the previously held physiocratic idea that only agriculture was productive. At the time The Arthashastra was written, in 4th century BCE, the economics of nations was largely agrarian. The Arthashastra(IAST: Arthastra) is an ancient Indian treatise on statecraft, economic policy and military strategy, written in Sanskrit.
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