The Role of Management Accounting in Ancient India: Evidence from the Arthasastra

Murthy, Vijaya; Rooney, James J.

doi:10.1007/s10551-016-3271-y

Cited by 6 publications

(2 citation statements)

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“…The Arthasastra describes the specific duties of four Varnas , designated in terms of their occupation – Brahmans , Kshatriyas , Vaisyas and Shudras (Murthy and Rooney, 2018). In contrast, prior to the Mauryan Empire the four Varnas were based on ethnicity (Verma, 1959).…”

Section: Trade and Commerce In The Mauryan Empirementioning

confidence: 99%

“…Eventually, shaping a substantial part of what is present-day India in a period contemporaneous with the Macedonian polity of Alexander the Great, Mauryan institutions comprised of both market and public order control practices (Rahman et al ., 2014: 654). At the same time, individual wealth creation was not just tolerated but actively encouraged within a formally prescribed ethical framework (Murthy and Rooney, 2018). Furthermore, the range of market goods was extensive (Khanna, 2006: 10), supporting lifestyles that was seen as extending beyond subsistence (Mahapatra, 2012).…”

Section: Introductionmentioning

confidence: 99%

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Institutions, social order and wealth in ancient India

Rooney

Murthy

2020

Journal of Institutional Economics

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Orthodox economic theorising on ancient societies emphasises the absence of market institutions, in contrast to advanced contemporary economies. However, this may downplay the influence of non-economic interests in the generation of wealth. Consequently, this paper examines an ancient civilisation identified as economically successful namely, the Mauryan Empire (322 to 85 BCE) centred on the Indo-Gangetic plains. Drawing on translations of books collectively known as the Arthasastra (lit. the science of wealth) as well as contemporaneous Greek and Roman texts, this paper examines the role of institutions in generating wealth within societal norms of income distribution and the preservation of social order. Given the importance of trade to this society, comparisons are made with medieval European institutions in terms of market coordination and the maintenance of generalised trust in trading markets. As a consequence, the role of institutions in addressing social and economic uncertainty affecting an ancient society is highlighted.

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Section: Trade and Commerce In The Mauryan Empirementioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%