Nepal, April 17 -- Sometimes I wonder if it was Kautilya, who, after writing Arthashastra in the 4th century BC, unknowingly sowed the seed for the perpetual misconception that points towards economics as the essence of statecraft. The title he chose probably created this misconception because it does not do justice to what is inside the book. Agreed that the 'economic science' included in the book parallels modern-day microeconomics, encompassing detailed market regulations, labour laws and agriculture.

In addition to that, however, there are other important fundamentals that introduce one to the nuts and bolts of statecraft. The Saptanga theory or the seven pillars of the state, elaborately explains the elements that make up the state,...