Chanakya (also known as Kautilya or Vishnugupta) was an ancient Indian teacher and philosopher who lived from 375 BC to 283 BC. In India he is regarded as one of the first proponents of the science of economics and its use in the art of statecraft. Chanakya wrote an influential work on political science titled Arthashastra; ‘Arthashastra’ literally means economics or the science of economics. Chanakya’s vision of political governance relied heavily on economics; in fact, he had proposed that kings should learn the subject from experts. Chanakya understood that economics was the most vital component of politics, and if the citizens of a country were not provided with the means to procure basic amenities like food, clothing and shelter, the state would invariably fail and collapse. Conversely, Chanakya however also appreciated that the kings could remain powerful only by amassing wealth and power. Thus, the economic function of a Kautilyan state was two pronged: to provide its citizens with a comfortable life and to amass wealth through taxation and other economic means to enhance its power. The economy that Chanakya proposed was a mixed economy which promoted both state and private activities. Interestingly in a Kautilyan state, the king was not the owner of all the lands (as was the norm of the times), even private entities could own land alongside the king (Olivelle, 2013).