Dharmanomics: An Indigenous and Sustainable Economic Model

by Sriram Balasubramanian

Dharmanomics seeks to present a coherent and structured economic framework based on the idea of Dharma for at least 1500 years. Ever wondered what is the socio-economic commonality between the Angkor Wat temple in Cambodia, Brihadeeswar temple in Tanjavur and the M? Son Shiva temple in Vietnam? Dharmanomics, which serves as sequel to Kautiyanomics for modern times, discusses economic models across Saraswati-Sindhu civilization and CE kingdoms including the Cholas, Pallavas, Pandyas, Vijaynagar, Kambuja Desa, Champa, Siam among others. The argument put forth in the book seeks to position Dharma as the central interface for economic policy along with the presence of Kautilyan Dharmic capitalism, Dharmic ecosystem and the role of Srenis in economic policies. This would also entail understanding state-market dynamics, rule of law, sustainable growth, trade and commerce through the prism of ethics, responsibilities and harmony. Furthermore, the book tries to provide a socio-economic historical perspective of some of these kingdoms with inscriptive and anectodal evidence to bolster the presented argument and also emphasize that Bharatiya rulers had a time series continuity of economic policy prescriptions far ahead of the Adam Smith's of the modern world.

Genres: Economics, History

292 pages, Kindle Edition

Published November 18, 2024

About the author

Sriram Balasubramanian is a Writer who has contributed extensively to international publications such as NYT, WSJ, Foreign Policy, Forbes India, The Hindu among others. He has interacted with a variety of global business leaders and policy makers in his experience as a journalist and writer. His main areas of focus has been on human development, education and socio-economic issues with a global context.

Besides this, he has a Masters degree from University of Southern California and is pursuing another degree at Columbia University in NYC. He is also authoring another book on the World Chess championship which was held recently.
He is very passionate about India, its cultural ethos & socio-economic evolution.

He can be reached: @Sriram316 www.facebook.com/jambathenovel
http://www.srirambala.in

Reviews

[noorthebookworm · Rating 4 out of 5]

Sriram Balasubramanian's
DHARMAN🪙MICS- an indigenous & sustainable economic model
is book 2
&
is part of a trilogy.
___
Book 1 KAUTILYANOMICS
Book 2 DHARMANOMICS
Book 3
____
It has got rave reviews from the likes of
former RBI governor Dr. Duvvuri Subbarao;
Chairman 15th Finance Commission Dr. N.K. Singh;
Writer-Economist-member PM's Advisory Council Sanjeev Sanyal;
Executive Director at IMF Dr. K.V. Subramanian.
____
This book aims at exploring the link between Artha (wealth) & Dharma (virtue) while focusing on the economic & political history of empires & kingdoms of South India (The Saraswati- Sindhu Civilization, Cholas, Pallavas- Pandyas & Vijayanagar Empire, Kambuja Desa & other SE Asian Kingdoms).

"What was the importance of Dharmanomics in the functioning of these kingdoms & how important was it in the factors that led to the dominance of these kingdoms?"

I was awestruck, right in the beginning, by the pictures & information about Kbal Spean which is in Cambodia.
I liked that a separate section mentions the various assumptions made in the book.

Other than the works mentioned in the Notes, Index sections, three books caught my attention, namely;
Kambuja Desa by R.C.Majumdar
History of South India by K.A. Nilakanta Sastri
&
Ponniyan Selvan.

The book begins with a chapter on SRENI DHARMA which was very interesting to learn about as it existed from atleast 3000BCE onwards & was able to continue & sustain itself even after bearing never-ending wars & changes in rulers.
The 2nd chapter discusses DHARMANOMICS & the meaning of dharma. The example of Ram Mandir in Ayodhya helped to easily understand the economics behind it.
Then we move to the SARASWATI -SINDHU CIVILIZATION in an attempt to study the key economic models & principles based on dharma. The information about International/ Maritime trade & International Gold Standard is mind boggling.
The information is systematically organised & supported with innumerable pictures, flowcharts, tables, maps etc & vernacular language is used as & when needed.
The CHOLAS were one of the most successful empires that Bharat has ever seen. In this part of the book, the author takes us through the history of the Chola kingdom & the economy during the era. He talks about the architectural wonder, the Brihadisvara Temple & the key oillars of the Chola Economy.
Studying the PALLAVAS, PANDYAS & VIJAYNAGAR EMPIRE revealed that Srenis here had similar strong organisational structure as those in the Cholas which was the basis for excellence in governance as well as operation.
In the chapter on KAMBUJA DESA, the author takes us through it's history, the economic structure of its economy with respect to Kautilya Arthashastra & other dharmic inspirations.
In the next chapter on OTHER DHARMIC SOUTHEST ASIAN KINGDOMS like Champa (Vietnam), Java, Bali & Sumatra (Indonesia), Siam (Thidland) we study the history, philosophical inspirations, dharmic influences on economy & governance, temples & the economy, Srenis & economic trade.
The last chapter on DHARMANOMICS THROUGH 5000 YEARS gives a brilliant conclusion to the discussion in the book validifying it with relevant examples. A Dharmic Growth Model which places moral values as the foundation of economic prosperity would definitely result in an overall economic growth.
He gives us a hint for Book 3 in the trilogy. It would be on the lines of Dharma- based economic ideas for Viksit Bharat in Amrit Kaal, achievable by 2047.

कर्मण्येवप्रतिपालक मा फलेषु कदाचन मा कर्मफलहेतुर्भूर्मा ते स्गोऽस्त्वकर्मण्य २ ४७

In the end I am convinced with the authors analogy & it has lit a spark of curiosity for the sustainable economic models followed in our history & the hope that they can be learned from & replicated in our future Bharat.

I value the authors attempt at studying, researching a subject on which very little literature was available & understanding the need of telling it to the readers & actually bringing it forth in a less analytical but a more at-ease read.
He aims that the book arouses the readers interest about ancient economic models & the need to study & debate them for future generations.
____
📍Blurb:
Did Rajaraja Chola, who built the world-renowned Brihadisvara temple in Tanjore, and Suryavarman II of Kambuja Desa (Cambodia), who built the world’s largest temple complex, Angkor Wat, erect these enduring marvels with a magic wand? Surely not. How did they nurture prosperity? What were the economic models that enabled them to leave the world awestruck? Sriram Balasubramanian’s sequel to the pathbreaking Kautilyanomics answers these questions by examining Common Era empires and kingdoms ranging from the Cholas, Pallavas, Pandyas and Vijayanagara to Southeast Asian kingdoms. Balasubramanian audaciously puts forward a novel, indigenous and sustainable framework called Dharmanomics—a function of Kautilyan Dharmic capitalism, of a Dharmic ecosystem driven by temples and Sreni (corporate guilds) Dharma—that spans thousands of years. It was put into practice much before the likes of Adam Smith and modern economic thinkers. It is a book for all ages—gutsy, thought­provoking and meticulously researched.
___
📍About the author:
Sriram Balasubramanian is an economist and author based at one of the leading
international monetary institutions in the world. His key areas of interest include global
macroeconomics, economic history, socio-economic trends in emerging markets and
Indic/dharmic culture. He has contributed to many international publications such as
Foreign Policy, Wall Street Journal, VoxEU and CNBC-TV18 as an independent
columnist and commentator. He is the author of Jamba: The Joint Family (shortlisted for
the Third Annual IAAC Literary Festival organised by the Indo-American Arts Council) and
The Wizards. Balasubramanian has also been featured in podcasts by Bloomberg and
interviewed by newspapers, including The Hindu and The New Indian Express, for his
books and research work. He was an international junior chess player and is an
alumnus of Columbia University, New York.
___

[Pooja Rathod · Rating 4 out of 5]

“The more we discover, the more we learn that economists of the past had a vision that was far ahead of its time”, says the author. Consider Rajaraja Chola, who built the world-renowned Brihadiswara temple in Tanjore and Cambodian King Suryavarman II, who built the world's largest temple, Angkor Wat, have had at least some understanding of economics?

Dharmanomics, written by Sriram Balasubramanian, explores this concept in depth. As the sequel to his acclaimed work, Kautilyanomics, Dharmanomics examines the economics behind ancient architectural marvels and the importance of studying them for future generations. This book has piqued my curiosity, encouraging me to read deeper into the economics of building ancient models and their relevance to future generations.

The phrase "dharayate iti dharma" meaning "Dharma sustains, integrates, and holds everything together at the individual and community levels" highlights the importance of Dharma in sustaining and integrating individuals and communities. The author defines Dharmanomics as a function of three terms:
Kautilyan Dharmic Capitalism, Dharmic Ecosystem, and Sreni Dharma.

Kautilyan Dharmic Capitalism refers to a rule-based yet non-intrusive economic system that promotes wealth creation via a global outlook and sustainable growth and welfare.

Dharmic Ecosystem refers to institutions created as a result of the Dharmic way of life and their effects on the socioeconomic policies of a particular geographical area. The author illustrates this concept with the example of the Ram Mandir in Ayodhya, which has catalyzed economic growth in the region.

Sreni Dharma, on the other hand, refers to the institutional drivers of economic growth and prosperity in the Dharmic kingdoms of the last 5,000 years or more.

Through a grounded theory study, the author examines the economic frameworks of ancient kingdoms, including the Chola Empire, Pallavas, Pandyas, and Vijayanagar.

The book reveals how these civilizations flourished under the guiding principles of Dharma, which emphasized inclusivity, decentralization, and religiosity.

The author provides a comprehensive analysis of the Chola Empire, one of the most successful empires in Indian history. The book explores the empire's economic framework, the role of Dharmanomics before and after the Cholas, and the inscriptions that represent a similar governance model to modern-day parliamentary systems.

Throughout the book, the author demonstrates how Dharma has been a driving force behind economic prosperity and growth.

Dharmanomics is a work of research and wisdom that offers a fresh outlook on the interface of economics, growth, and civilization.

This book is a must-read for anyone interested in economics and history. It provides valuable insights into the past and offers lessons for building a better future. By studying the economics of ancient civilizations, one can gain a deeper understanding of what drives prosperity and
growth.

Rating ⭐️ ⭐️ ⭐️ ⭐️

[Padmajha [PJ] Me and My Bookshelf · Rating 5 out of 5]

Dharmanomics: An Indigenous and Sustainable Economic Model by Sriram Balasubramanian is a sweeping exploration of India’s ancient economic systems, anchored in the principles of dharma.
Tracing the evolution of dharma-based economics from the Saraswathi-Sindhu civilizations to the Vijayanagara Empire and other Southeast Asian Kingdoms, the author highlights how these principles enabled India to achieve sustained prosperity and global influence for millennia.
Central to the book are Kautalya’s economic policies based on Dharmia, the Sreni or guild system, and the temple-led dharmic ecosystem, collectively fostering an inclusive, sustainable, and ethically sound financial model.
The Srenis, or guilds, emerge as a critical pillar in this framework. These autonomous and inclusive trade bodies, composed of individuals from diverse social strata, operated under ethical codes and thrived under royal patronage. The book also talks on how temples were equally pivotal in this ecosystem, functioning beyond their spiritual role as economic and administrative hubs. It also shows the influence of India’s temple economies on Southeast Asian civilizations, underscoring the enduring legacy of dharma in shaping governance and commerce across regions.
The book’s emphasis on sustainability is particularly relevant to contemporary economic challenges. Ancient Indian systems encouraged ethical wealth creation, resource conservation, and living within one’s means, viewing wealth as something that has to be revered and preserved. Drawing on historical insights, the author connects these principles to modern issues.
By seamlessly blending historical analysis with contemporary relevance, the book bridges the past and present, providing a fresh perspective on India’s economic heritage and its global impact.
The book is enriched with numerous tables and charts, both black-and-white and color photographs, and detailed maps, all of which enhance the understanding of the content. Some chapters are presented in a Q&A format, while others are structured with subheadings to facilitate easy reading and comprehension. These thoughtful inclusions significantly enhance the book's value and accessibility. The comprehensive Notes section highlights the depth of the author's research while offering valuable references for further study.
This book will prove to be an engaging read for anyone fascinated by economics, history, or India’s lasting influence on global trade. By presenting a compelling model of ethical and sustainable growth rooted in dharmic principles, it stands out as a must-read for both scholars and curious readers.

[Debjani Ghosh · Rating 4 out of 5]

Did Rajaraja Chola and Suryavarman II construct the awe-inspiring Brihadishvara temple in Tanjore and Angkor Wat temple in Cambodia with a magic wand? No, right! These required a lot of money. How did these kings generate so much wealth?

Read Dharmanomics by Sriram Balasubramaniam to get a fascinating insight into the indigenous economic model that underpinned the hugely prosperous South Indian kingdoms.

The author sheds light on the existence of srenis which were collective groups engaged in commercial activities and were supported by the kings. These contributed immensely to the economy and were similar to modern-day companies run by a board of members. Once again, Dharma was the way of conduct in these srenis.

The Cholas, Pallavas, Pandyas, and the Vijaynagar Empire contributed immensely to the economic and cultural prosperity of ancient India. The bedrock of all these empires was, as the author explains, an economy centered around temples thus firmly establishing Dharma as the epicenter of all progress.

Further, Dharma was not just a religious concept rather it was a combination of practical concepts such as transparency, prevention of nepotism, and taking steps to curb the hunger for power.

I was amazed by the fact that these kings inscribed the particulars of transactions on temple walls so that common people were aware of them.

The author meticulously explains how these temples acted as conduits between the monarchy, wealthy non-state entities and the common people. Private donors were actually encouraged to take up infrastructure projects, similar to public-private partnerships of today.

He also gives ample evidence to support the fact that manufacturing thrived in Bharat thousands of years before the British arrived. Further, other Southeast Asian kingdoms based in Cambodia, Indonesia etc. were also influenced by this Dharmic economic model.

However, this is a data-heavy book. As such, I would have appreciated a more narrative format for easier comprehension of the concepts.

Overall, I liked this book and I recommend it to readers looking for well-researched economic history of Bharat.

[Prerna Shambhavee · Rating 5 out of 5]

I recently wrapped up “Dharmanomics: An Indigenous and Sustainable Economic Model” by Sriram Balasubramanian, and it is safe to say I was completely blown away. This book is a must-have for all. It serves as a well-founded and engaging narrative on how ancient empires and kingdoms in India and Southeast Asia reached unparalleled success through the construction of the Brihadisvara temple and Angkor Wat.

This begs the question that serves as the foundation upon which the author builds his argument: how is it possible for peoples and civilizations to create such remarkable works that last thousands of years? The answer, according to him, is quite intriguing and rather surprising. He asserts that a mix of Dharmic capitalism tempered by corporate guilds and temple-based economic systems revolutionized the modern world during the time of our ancient ancestors.

The thing that stood out for me in this book is its sheer audacity. Sriram Balasubramanian is not scared to go against the tide and put forth an alternative view on the history of economics. He argues that dharmanomics is an indigenous model which was resilient for thousands of years in the absence of modern economists such as Adam Smith.

There is also a thorough dive into how plausible the whole economic story is by considering numerous historical events and examples. Starting from the Cholas and ending with the Vijayanagara empire, Sriram Balasubramanian’s narrative puts us on an expedition to how ancient civilizations managed to create sustainable and thriving economies based on dharmanomics.

In general, I would encourage anyone interested in economic history, sustainability, or simply seeking novel ideas on how to improve the world, to read this book and treat it as a worthwhile investment. I would encourage younger readers to engage with this book as it is bold in its claims and the conclusions drawn are thoroughly backed up by the research conducted.

Recommendation: Conversely, if you would like a book that is going to disrupt your perceptions about economic history, “Dharmanomics” is going to be the book for you.

[Sumit RK · Rating 5 out of 5]

In theory the economy exists to support society and enhance human well-being. Hence, an ideal and sustainable economy is one which provides for the greatest amount of general well-being with the least amount of resource use and environmental harm. But the quest for the ideal sustainable economic model continues.

India was an economic power to reckon with until its economic decline in the 18th century, with several wealthy kingdoms. So what sort of economic models and structures did they follow? Is it time to look back into India's glorious past for abm indigenous and sustainable economic model.

'Dharmanomics' by Sriram Balasubramanian takes a look back at India's ancient economic systems, that fueled India's prosperity. From the Saraswati Sindhu Civilization to the Southern Kingdoms of Cholas, Pandyas, Pallavas and Vijayanagar among others, the book focuses on the economic systems of those kings.

The book delves into the intricacies of these economic systems and how their economic politicies rooted in Dharma and their geographical realities. The book discusses how the three pillars that are Kautilyan Dharmic Capitalism, Sreni guilds, and the Dharmic ecosystem that are led by temples, was the common thread among all these kingdoms. Not just economy, the book also discusses the role of Dharma in governance, trade and other institutions of the State.

The best thing about the book is how it applies ancient wisdom to modern economic problems and how the ancient knowledge can be used to build a sustainable economic model. The author goes into great detail to explain the functioning of agriculture, trade and industry, which is highly insightful. The addition of charts, maps and quotations makes the book immensely informative.

Overall, Dharmanomics is a well researched book providing you valuable insights into India's rich economic heritage. A great read for those interested in India's economic past.

[Chinmayee Sahu · Rating 4 out of 5]

Dharma was the pillar of  economy. This is what the author want to convey through this book with his research and studies. There were instances and evidences which clearly indicates the presence of dharma as the foundation of economy. The kings used to built temples in many places, people visit and  shops are developed near temples and then people buy and sell that' s how trading started. So in this book you go deep in to understand how Dharma is the foundation of economy.



In those times 5000years ago, during the rule of chollas, pallavas etc. economy and business were equally organised and you can also find the concept of privatisation. All kinds of trade like metals, gold, tin, rice etc. exported and imported to different places.



It was also found that there was selection of candidates, mode of election and the structure of village committees which represent an ecosystem which is akin to modern day parliamentary democracy.



There was well organised and efficient administration and transportation network to facilitate trade. Trade was done in many countries like Cambodia, Thailand, Myanmar , China and many European countries as well.



This book is in  the format of question and answer in the beginning making it reader friendly.  This book will be a guiding light for students who take interest in history and related subjects. And most importantly many ancient Indian colonies which are presently known as South Asian Countries has a rich Indian history and it has  its relevance in India but no studies or research have been done. 



Personally after reading this book I started seeing history in a different lens. There was a relevance of history in present times. 5000 years back the kings were very much developed in terms of trade, economics and intelligence. I would recommend this book to everyone whichever field you are in as everyone can gain some kind of knowledge and idea in someway or the other.

[Rahul Vishnoi · Rating 5 out of 5]

-The Confluence of Dharma and Economics-
Review of 'Dharmanomics'

Dharmanonics is a spiritual sequel to the author's 'Kautilyanomics- For Modern Times'. In this, the author traces and presents an economic model supposedly used to the maximal advantage by the great Chola kingdom. He champions it to be used in the current times so as to invigorate the economy.

Economy during the Chola Era forms the mainstay of Balasubramanian's research and economic model. He uses it extensively across all the chapters to drive his point home. He writes- 'There are three important components of the economics of the Cholasunderpinning of Dharma as a philosophical and sociocconomic construct, presence of Srenis, and the vast maritime trade networks which were anchored by the first two components.'

Citing examples from the ancient times, the author presents an economic model based upon a partnership of public-private-temple.The temple not only had a role in capital formation, it also served as a financial institution like a bank or a venture capitalist as well.

The author writes that there is an evidence that the temple had provided some part of the land that it owned as tax-free to a private individual as a sort of encouragement for that individual's efforts to help construct a tank in order to irrigate lands.This was an effort by the temple to encourage a private individual via a commercial incentive to contribute to a public activity. The state, on its part, ensured that the regulations were minimized and construction could take place at an effective pace so as to benefit the people. Many such cases, existed where the public-private institutions and the temple cooperated to boost infrastructure projects of different sizes. This was very effective during natural calamities.
The book advocates a deep dive into history for a dose of economics.

[Astha Vyas · Rating 4 out of 5]

Dharmanonics serves as a spiritual follow-up to the author’s previous work, Kautilyanomics. In this book, the author explores an economic framework that was allegedly employed to great effect by the renowned Chola dynasty. This book provides answers to numerous questions about how ancient economies flourished by applying dharmic principles. He advocates for the adoption of this model in contemporary times to revitalize and strengthen the economy.

The book explores the complexities of these economic systems, focusing on how their policies, grounded in Dharma, contributed to their success. It examines how the three foundational elements—Kautilyan Dharmic Capitalism, Sreni guilds, and the Dharmic ecosystem led by temples—formed a common thread across various kingdoms. Beyond economics, the book also addresses the influence of Dharma on governance and trade.

The author also explores the economic planning of Saraswati-Sindhu civilization. The book then shifts to a detailed examination of the Chola dynasty, beginning with an overview of the Tamil kingdoms, accompanied by images that help explain the content. This section was quite captivating, as it uncovered the impressive scale and strategic ingenuity of these formidable rulers.

The author further explored Kambuja Desa, the ancient name for modern-day Cambodia. He delves into the rise of the Kambuja Desa Empire and how its economic framework was shaped by the principles of our Dharmic economy.

The greatest strength of the book lies in its ability to apply ancient wisdom to contemporary economic challenges. The author provides an in-depth analysis of agriculture and trade, offering valuable insights. The inclusion of charts and maps further enhances the book’s informative value.

It’s an informative read for anyone intrigued by economic history and India’s emergence as a global power.

[Saloni Singh Chauhan · Rating 4 out of 5]

Dharmanomics by Sriram Balasubramanian is a groundbreaking exploration of ancient Indian economic systems rooted in Dharma. Building on the foundation of his earlier work, Kautilyanomics, this book delves into how Dharma served as the guiding principle for sustainable economic growth in ancient civilizations. Balasubramanian introduces the concept of Dharmanomics through three key pillars: Kautilyan Dharmic Capitalism, a rule-based yet non-intrusive system promoting ethical wealth creation and welfare; Sreni Dharma, semi-autonomous guilds that regulated trade and ensured economic stability; and the Dharmic Ecosystem, where institutions like temples played a central role in fostering community-driven economic growth.

The book presents compelling case studies of ancient Indian empires like the Cholas, Pallavas, and Vijayanagar, highlighting how their adherence to Dharmic principles led to inclusive and decentralized governance. The Chola dynasty, in particular, is examined for its sophisticated economic practices and temple-centric economic ecosystem. A notable example is Rajendra Chola I's military expedition, which was strategically motivated by economic interests to protect trade routes and guilds (Srenis), showcasing early instances of economic diplomacy.

Balasubramanian critiques the dominance of Western economic narratives and emphasizes the need for indigenous research into India’s rich economic heritage. By revisiting the prosperity of civilizations like the Saraswati-Sindhu and connecting their practices to modern economic concepts, Dharmanomics offers valuable insights into sustainable development and ethical governance.

This book is a must-read for anyone interested in economics, history, and India’s cultural legacy. It serves as both an academic resource and a philosophical guide to understanding how ancient wisdom can inform modern economic policies.

[Geethanjali · Rating 5 out of 5]

It always feels so proud to learn about the great Indian History, its cultural richness and knowledge in every particular aspect of every subject that is known to us today and economics is never an exemption. The author of Kautilyanomics , Sriram Balasubramanian is back with the second book of his Trilogy Dharmanomics: An Indigenous and Sustainable Economic Model to shed is light on the mysteries of prosperity and economic models that enabled ancient empires and kingdoms to leave an indelible mark on history.


"Dharmanomics" – a blend of Kautilyan Dharmic capitalism, Dharmic ecosystem, and temple-driven and guild-based economic systems, and the main word here is “Dharma” was clearly explained in the beginning of novel as a base to understand every other aspect that he was going to discuss this indigenous and sustainable model, he asserts, predates modern economic thought and has been in practice for thousands of years.


With an exceptional narrative that masterfully reconstructs the economic landscape of ancient India and Southeast Asia, his rigorous research and analytical insights  demonstrates how the interplay of temples, guilds, and Dharmic principles fostered a unique economic ecosystem that promoted prosperity, social welfare, and cultural achievements.Although I'm not a student of economics, I could understand this book with a bit ease which makes this book a a compelling read for scholars and non-experts alike and the topic of Sreni Dharma had intrigued me a lot throughout the book. 


I'm not going to give away much spoilers even though it's a non fiction, but I still highly recommend this book to anyone interested in economic history, cultural heritage, and sustainable development. After reading this one I'm going to grab the previous one soon and I'm really excited for the final part of the trilogy. Happy Reading ❤️😊…

[Rajendra Kumar · Rating 5 out of 5]

In "Dharmanomics: An Indigenous and Sustainable Economic Model," author Sriram Balasubramanian embarks on a captivating exploration of ancient Indian economic philosophies, notably the Dharmic principles that underpinned the success of historical empires. The book delves into the concept of Dharma as a foundational element of economic policies in ancient Indian kingdoms, particularly through the lens of the Srenis—early collective groups integral to commerce.

               Sriram Balasubramanian highlights the illustrious reigns of Rajaraja Chola and Rajendra Chola, who oversaw the construction of the magnificent Brihadisvara temple⛩️ in Thanjavur, a testament to the prosperity nurtured under their rule. The author provocatively questions how such enduring marvels were created, asserting that the economic models of these kingdoms played a crucial role in their success.

              By examining the empires of the Cholas, Pallavas, Pandyas, and Vijayanagara, as well as their Southeast Asian counterparts, including the kingdoms of Cambodia, Vietnam, Indonesia, Malaysia, and Thailand, the book offers a comprehensive understanding of Dharmanomics. The book is meticulously researched, featuring various maps, photos and tables that enhance the reader's understanding of the complex historical context.

                Sriram Balasubramanian's writing is both scholarly and accessible, making complex ideas digestible for a broad audience, from students to seasoned economists. Overall, "Dharmanomics" is a must-read for anyone interested in the intersection of history, economics, and culture, inviting readers to reconsider the foundations of sustainable economic development🧡☀️

[Sudeshna Banerjee · Rating 5 out of 5]

"Dharmanomics" by Sriram Balasubramanian is an amazingly innovative idea book about economics dealing with matters related with the ideology of the ancient Indian concept of Dharma. The book offers a framework for studying the application of Dharma in modern economic systems, which primarily leads to promoting sustainability, ethics, equity, and general harmony.

The book advances the idea that Dharma is the primary framework for economic policy, with focus on ethical values, responsibilities, and harmony. The writer also discusses the historical socio-economic with the different ancient kingdoms such as the Cholas, Pallavas, Pandyas, and Vijayanagara, suggesting their eco-friendly economic strategies. The book also explores the process of integrating Dharma principles into today's economic paradigms to solve the issues of the day, including inequality, environmental degradation, and social unrest.

To be honest I was very drawn towards the cover photo of the book. I felt it was very attractive to the eyes. The writing style of the author is very clear and engaging. While reading this book I could understand that the author has researched very well about the historical evidence to support his arguments. I was hooked to the book without getting bored at all.

I will highly recommend this book to people who are interested in reading about history and economics. This book gives a nice idea about how historical principles can shape the modern economy. So grab your copy today and you will definitely enjoy reading it as much as I did.

[Starlight Readers · Rating 5 out of 5]

Dharmanomics is an engaging book to look into an economic framework based on the principles of Dharma. This well-researched book bridges history, culture, and economics for a unique perspective on why ancient Indian civilizations thrived through value-driven creation and distribution of wealth.

Sriram discussed the concept of Dharmic Capitalism, which has ethical practices on par with the economic growth. He has used examples of great empires like Cholas, Pandyas, Pallavas, and Kambuja Desh to vividly portray how the civilizations achieved economic prosperity while keeping the Dharmic stance in mind.

The book is quite enlightening on its focus on the temple-based economy. Far beyond being religious centers, temples were pivotal in serving their role as labor aggregators, institutions of finance, and mediators in wealth redistribution. They supported agriculture, trade, and manufacturing, being the backbones of the economy.The fact that the author analyzed how the temples functioned as a maritime trading hub highlights how important these centers were in establishing local and international commerce.

Extensive research under the pen of Balasubramanian beams out from every chapter to be made an insightful read for anyone with curiosity about different economic models and intersection of history and economics that Dharmanomics showcases. The book captures well the principles of Dharma guiding individual behaviour as well as shaping socio-economic activity in ancient India.

[Nidhi Malhotra · Rating 4 out of 5]

Dharma is the foundation of everything and this book is one such example where we can read how Dharma relates to the economic policies and governance back then in the ancient times.

This book includes some terms which we get used to slowly as we dive into the pages and the list of assumptions have made it an easier read.

Considering the technicalities in the book, the author has done justice by structuring the chapters in a way for the readers to adapt, like the content is not all over the place to begin with but in a question answer format where one can understand what they are reading and then one can slowly get used to what other chapters have to offer.

The economic progress and how it revolved around dharma over centuries have been explained in detail.

There are a lot of illustrative pictures in the book for the ancient references made which are indeed a help in understanding what is referred to.

The civilisation movements over Indian history have been explained pretty well. A lot of data in tabular form and maps where needed have been added which helps in understanding the content.

A well researched work I feel, because there's a lot in store for the reader but it is indeed a heavy read.

The surprising economic models of different eras and the evolution they've seen is interesting.

This is a must pick for those interested in economics and more importantly how we reached today where we are and those who love reading about ancient times and how the evolution took place.

[Ruqaiyya Mohammed · Rating 5 out of 5]

BOOK REVIEW - Honestly, as a commerce student I never thought of reading or coming across such a book that describes economic history of undivided India; the golden bird.
To begin with, the book is a history "textbook" legit ! The kings, their kingdom, the currencies and trade norms they introduced, the economic philosophies they used are so well discussed and elaborated by S. Balasubramanian in his book " Dharmanomics".
The detailing of Pallavas , Pandyas and Vijaynagar empire reminded me of 6th standard CBSE curriculum were we learnt half of this book's knowledge.
The book is a research thesis and yes! A good resource for further archaeologist researches.
I love the fact that how has India evolved around years of revolution and under British rule , this book is definitely a groundbreaking contribution to the field of archeology, shedding new light on ancient civilizations using inscriptions in "Tamizh"; an ancient language.

The author's meticulous research and meticulous attention to detail make this book a masterpiece of historical reconstruction.The wealth of visual materials, including photographs, diagrams, and maps, makes this book a treasure trove for archeology enthusiasts."
This book is a testament to the power of archeology to uncover the secrets of the past, and its findings will undoubtedly shape the future of historical researches.

RECOMMENDED - History lover's, found your true love!

[Rinki · Rating 4 out of 5]

Dharmanomics : An Indigenous and Sustainable Economic Model by author Sriram Balasubramanian takes the reader through the history of Dharma based on Artha in Ancient India. He tries to cover Sarasvati Valley Civilisation, Chola, Pallava, Pandya Dynasties & Vijayanagara Empire. Dharmanomics is based on Dharma, the eternal principle of Contentment. Here author focused on Dharmika Temple ecosystem & proliferation of Srenis in conducting business.

Srenis are the highlight of this book. How it formed & functioned in pre-colonised India. Author’s aspect of Dharmanomics is the centrality of temples in the economy. Temple not only for religious purposes but it also serves purpose of economic activities in the society. Funds from temple used in irrigation & public works projects. In brief, temple looked after the spiritual & material needs of the community. This model of Dharmanomics was not just limited to the Indian Subcontinent but also extended far beyond to Cambodia, Vietnam, Indonesia & other South East Asian countries.

The component of Dharma also brings in the element of sustainability. To protect people from wasting money while taking debt or creating assets. It’s Dharma’s key feature to look after it.

Author did very well research to write this book & it open up many doors of discussion like how to resurgence of Dharma based Economy in future. This book can used for research scholars for further studies in these topics.

[Madhu Singh · Rating 4 out of 5]

"DHARMANOMICS" is made up of two words: Dharam + Economic. In this book, the author explains how our Dharm plays an important role in our economics in ancient times. Dharmanomics is also called Sreni Dharma. The author discusses what Sreni Dharma is and how it works. He also shows how Sreni Dharma had an impact on the Saraswati-Sindhu Civilization and how old this Sreni Dharma was.

The author talks about the Chola Empire. The Cholas were in Southeast Asia and had alliances with contemporary Indonesia, Cambodia, Thailand, and Vietnam. In this book, we see how the Chola Empire arose, what the structure of the Chola Kingdom was, and how they governed their economy. After discussing the Cholas, he talks about the Pallavas, Pandyas, and the Vijayanagar Empire, and how Dharmic principles influenced their economies.

The author not only talked about the Indian Empire, but he also discussed Kambuja Desa. Kambuja Desa is the ancient name for contemporary Cambodia. He talked about how the Kambuja Desa Empire arose and how their economic structure was influenced by our Dharmic economy.

History is one of my favorite subjects. I enjoyed reading this book; while reading it, I remembered how much I loved to study history during my college years. This book is perfect for history students who want to know more about the economic structures of ancient times. I highly recommend this book.

[Sindhu Vinod · Rating 4 out of 5]

Dharmanomics", the latest by Sriram Balasubramaniam gives you a deep dive into the economic systems of our country, which served as a strong foundation of its prosperity.
This book presents an interesting perspective on economic models rooted in the ancient Indian concept of Dharma. The author then proceeds to explain how this principle can be applied to modern economic policies, emphasizing sustainability, ethics, and harmony.
From Saraswathi-Sindhu civilization, the book gives you a detailed account of the economic systems of these kingdoms. We also understand that these economic decisions were influenced by Dharma. The three pillars, Kautilyan Dharmic Capitalism, Sreni guilds, and the Dharmic ecosystem that are led by temples, was the common thread among all these kingdoms. The majestic Architectural structures that stand tall even now, makes you think how the Kings would have managed the resource pooling. It is only after answers from this book you understand that these are not just religious structure but also serve as fund raisers that could be channelled to other welfare projects.
The book is well presented with detailed pictograms, flowcharts and photographs and the author’s meticulous research on the subject is the well seen output.

[Riddhi Kishnadwala · Rating 5 out of 5]

Dharmanomics is the second part of a trilogy which explores how the foundation of modern economic structures are based within the ancient economic and political histories of ancient Indian empires i.e. Cholas, Pandayas and Pallavas. The first book in the series was Kautilyanomics. The books can be read standalone or as part of the series.

I started with Dharmanomics and was blown by the depth of the research undertaken by the author. The points and arguments are meritorious and invoked me to think deeply.

Based mainly on the political and economic structures of Chola kingdom, the author Sriram Balasubramanian champions that the economic concepts used by Cholas can be used in modern times to strengthen and invigorate the economy.

I am generally intrigued by the topics of economics and business management and this book held special significance to me to that extent. In a time when our economy is going through turbulent times, reading about an ancient stable empire and its learnings was an eye opener for me.

After this, I am keen to read through Kautilyanomics and am eagerly awaiting the third instalment of the same. Richly rooted in heritage, the book can be a great pick for discussions and highly recommended!

[Anjali Anil · Rating 5 out of 5]

Dharmanomics by Sriram Balasubramanian offers a fascinating exploration of India's ancient economic systems through the lens of Dharma.
The book introduces us to "Dharmanomics". It is a framework that sustained India's prosperity for over 5,000 years. The book mainly focuses on three pillars that are Kautilyan Dharmic Capitalism, Sreni guilds, anc the Dharmic ecosystem that are led by temples.
What I loved the most about this book was how it beautifully connects India's ancient wisdom to the modern economic challenges that we are facing currently. It also teaches us about a sustainable, and ethical approach to wealth creation.
Also the various historical insights that is provided in the book about the Saraswati-Sindhu Civilization and the Chola dynasty really widened my perspective on India's global economic influence.
This book is indeed a must-read for all the curious readers out there who love to learn about India's economic heritage, its relevance today, and its potential for guiding the future. I highly recommend this book to all the readers out there.

[bookswithkinkita · Rating 4 out of 5]

Dharmanomics by Sriram Balasubramanian is an insightful exploration of the ancient Indian economy that is rooted in the principles of Dharma.
The author delves deep into the concepts of Kautilyan Dharmic Capitalism, Sreni Dharma and Dharmic ecosystem, where he narrates how these ancient philosophies of economics contribute to a modern system. He explained the concept of Sreni Dharma, where a group of people takes the role of various guilds, and how this concept is applied today in contemporary economics.
His intricate study on Cholas, Pallavas and Pandyas shows how temple-centric advanced economic systems make people aware of integrated spiritual and material wealth.
By referring to the Saraswati Sindhu Civilization, he conveys how ancient wisdom affects the modern approaches to sustainable economic development and ethical governance.
I like how the author presented the complex economic ideas in an easy pattern using pictures, maps and charts.
The book is a must-read for anyone seeking knowledge of India's rich economic history.

[Swarnima Sen · Rating 5 out of 5]

"Dharmanomics" delves deep into exploring the connection between wealth and "dharma" or virtue. It's a treasure trove, in the truest sense.

The author focuses on the economic and political conditions of the ancient kingdoms of South India, including the Cholas, the Pallavas, the Pandyas, etc. What is truly impressive is to witness the way the nexus between history and economics was laid out, with poignant references to the architecture established by the rules, of course, by investing hefty resources.

By pivoting on moral values, the way the author depicted the Dharmic Growth Model is fascinating. The book serves as a true epitome of the way ancient wisdom can be intelligently applied to the current economic problems.

This canonical book, a true labor of painstaking research, also sheds light on the foundations of sustainable economic development. A must read for anyone having a penchant for exploring the intermingling of disciplines and deciphering economic codes connecting the ancient history and the modern present.

[Ummehani Nalawala · Rating 5 out of 5]

Dharmanomics by Sriram Balasubramanian is book connecting the readers to the marvellous ancient economical history of India. Dharmanomics meaning Dharma plus economics brings forward the connection between the two.

Indian economics was understood far before the economists could decode it. "The more we discover, the more we learn that economists of the past had a vision that was far ahead of its time" rightly said by the author.

The book is built around three pillars: Kautilyan Dharmic Capitalism, Sreni Dharma and The Dharmic Ecosystem. Various case studies including that of the Cholas is beautifully portrayed in the book. The author is able to demonstrate how dharma acts as a driving force to economical growth of our country since ages.

Overall the book is a historical marvel meant for history and economics enthusiast.

[Neha Chothani · Rating 5 out of 5]

Even after coming from commerce background I never thought of reading or coming across such a book that describes economic history of undivided India.
This book is a legit history "textbook". All the kings, their kingdom, the currencies and trade norms they introduced, the economic philosophies they used are well elaborated by the author. I love the fact how India has evolved around years of revolution and under British rule , this book is definitely a groundbreaking contribution to the field of archeology, shedding new light on ancient civilizations using inscriptions in "Tamizh"; an ancient language.
This book is indeed a must-read for all the curious readers out there who love to learn about India’s economic heritage, its relevance today, and its potential for guiding the future. I highly recommend this book to all the readers out there.

[SIDDA RAVITEJA · Rating 5 out of 5]

Sriram Balasubramanian's "Dharmanomics" explores the unique economic framework of ancient Indian empires, challenging conventional Western economic theories. He introduces "Dharmanomics," a blend of Kautilyan Dharmic capitalism and a temple-centric ecosystem, as the driving force behind the prosperity of empires like the Cholas and Vijayanagara.  

This indigenous model, predating modern economic thought, emphasized the interconnectedness of religion, culture, and economic activity. Temples served as centers of economic and social activity, while guilds (Sreni) played a crucial role in production and distribution.  

"Dharmanomics" offers a compelling and well-researched perspective on ancient Indian economics, prompting readers to consider alternative models for sustainable development and challenge conventional economic thinking.

[Hannah Vargees · Rating 3 out of 5]

What was our old India like when ruled by Kings? What were their measures to develop the economy of the country How far did the Asian kings rule. Countries like Cambodia and Vietnam were also ruled by Kings who originated on the Indian Lands and the schemes they developed were impeccable. This is what this book talks about. ​An Historically knowledgeable book and the amount of background work put into it is evident. Thanks Bloomsbury for this review copy

[Priyanka M · Rating 4 out of 5]

This book dives into the ancient economic wisdom that kept kingdoms thriving which was centered on Dharma.

The book critiques the lack of indigenous research on ancient Indian economics, challenging Western narratives that overlook India's rich history.

The book emphasizes Dharma's role in the prosperity of the Saraswati-Sindhu Civilization, tracing the roots of the international gold standard to this civilization. The Chola dynasty is another key focus, examining the significant role of Srenis and temples in economic stability, with fascinating anecdotes like Rajendra Chola I’s military expedition for economic reasons.

The author has structured the book with brief explanation of concept, question and answers which is very easy for anyone to follow. I especially liked the author's explanation of concepts using temples.

This book helps us to rediscover India's economic heritage, offering valuable insights into the intersection of economics, culture, and sustainability.

It's a must-read for anyone interested in economic history and India's rise as a global power.

Overall, I found the book premises fascinating and important for our current and future times.

[Ramachandra Rao · Rating 4 out of 5]

Some good research done on a topic which I had similar thoughts and plans. Hoping for more such evidence based work in future too.

[AANVI WRITES · Rating 4 out of 5]

The Brihadeshwara Temple has always fascinated me. This majestic structure stands tall in its full grandeur, reflecting the immense wealth and vision of the Chola kings who built it. I often wondered how the Cholas managed to generate such resources to construct marvels like this while efficiently governing their kingdom and caring for their subjects.

This book by Sriram Balasubramanian, which answers many questions about how ancient economies thrived using dharmic principles. The author explains how Temples were not built solely for religious purposes, they also played a pivotal role in driving economic activities within societies. These architectural marvels acted as centers of resource generation, with funds from temples often allocated to irrigation systems and public works projects. The book delves into the economic systems that sustained Indian civilization for over 5,000 years, highlighting the three foundational pillars of its success: Kautilyan capitalism, Sreni dharma, and the dharmic ecosystem.

The author also sheds light on the Saraswati-Sindhu civilization, discussing its socio-economic planning and the fascinating design of six edged gold coins. The book then transitions into an in-depth exploration of the Chola dynasty, starting with a chronological overview of Tamil kingdoms supported by visual aids like flowcharts and pictures that enhance the reader's understanding. This section was particularly engaging for me, as it revealed the grandeur and strategic brilliance of these valiant rulers—something I hadn’t fully appreciated before.

One of the book’s key themes is how dharma served as a driving force behind economic prosperity. Sriram Balasubramanian skillfully connects ancient wisdom to the modern economic challenges we face today, offering valuable lessons from our heritage.

Overall, this book is a treasure trove of knowledge, helping readers rediscover the secrets of ancient Indian civilization and its timeless relevance.