English, Article edition: Kautilya on law, economics and ethics Balbir S. Sihag

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Bookmark: http://trove.nla.gov.au/version/29043
Physical Description
  • article
Language
  • English

Edition details

Title
  • Kautilya on law, economics and ethics
Author
  • Balbir S. Sihag
Physical Description
  • article
Notes
  • Purpose – The purpose of this paper is to explore the status of economic analysis of laws relating to property and contracts during ancient times in India. Design/​methodology/​approach – Modern research tools are used to present Kautilya's ideas on contracts and property. Findings – Kautilya implicitly proposes a labor theory of property. He devised economic laws related to contracts, property and tort, which promoted economic efficiency and encouraged ethical behavior. Research limitations/​implications – Current approaches ignore the role of ethics in designing legal rules for promoting economic efficiency. Practical implication – Unless laws are designed to encourage and promote ethical conduct optimum economic efficiency is unlikely to be achieved. Originality/​value – Kautilya advocated a contract theory (between the ruler and the ruled), which was utilitarian in nature, however, unlike Bentham, he still appealed to the moral motivation.
  • Contracts, Economics, Ethics, India, Law, Property rights
  • RePEc:eme:humpps:v:25:y:2009:i:1:p:75-94
Language
  • English
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