Page:Indian Journal of Economics Volume 2.djvu/647

 ECONOMICS IN ANCIENT INDIA PROFESSOR BALKRISHNA, .., F.S.S., F.E.S., GURUKUL COIJ.,EGE HARDWAR U.P. The subject been lamentably ignored the world has come have contributed absolutely ment of the science or of Hindu economics has hitherto even by Indian scholars and to believe that the Hindus nothing to the economics. art of develop- That we do not exactly know of the full growth of this body of knowledge is undoubtedly true, but that there are numerous renee is actually sure. has been rendering of shastra. aken science so far from and incontrovertible of its exis- Again up to this day there a lamentable want of precision in the he Sanskri words vartta and artha- evidences Many Indian writers have indistinguishably them both to be of economics. the truth. equivalent to the modern But there can be nothing This huge mistake is being constantly repeated in our Indian writings. We ought to be cadtious in the use of these words, and should not be misled by their etymological meanings. Both the words are undoubtedly significant. Vartta is derived from vritti, 'profession', a means of livelihood, hence wrtta is the name of that body of knowledge which teaches us means of the production of wealth. While according to its root meaning arthahatra is the shatra (science) that relates to wealth or artl