TRADE, COMMERCE AND ECONOMICS: INDIAN PERSPECTIVES VERSUS WESTERN THOUGHTS, DIFFERENCES AND SIMILARITIES

Commerce, this has been an essential aspect of every individual's life. The history of commerce dates back to the evolution of the human race on planet earth. It all started with a barter system where give and take was the policy. As and when the human race started to evolve loopholes in the system started to grow, and slowly but steadily, complexities started growing. Commercial aspects started gaining much relevance in peoples lives. People started dividing themselves geographically and started exchanging between two distinct geographies, as and when the divisions were made, there started differences in the thoughts as to how commercial activities are ought to be conducted. While few conflicted with each other, few were drawn on similar lines to ensure smooth commercial activities. Such commercial activities slowly started forming economies of the geographies, economists who defined the way economies have to be run with their theories grew in number. This paper draws differences and similarities between thoughts that arose between Indian and western country's economists on commerce and economic activities over various time frames.