Sources of economic growth	Kautilya	Adam Smith
Importance of capital	“Man, without wealth, does not get it even after a hundred attempts. Just as elephants are needed to catch elephants, so does wealth capture more wealth, Wealth will slip away from that childish man who constantly consults the stars. The only [guiding] star of wealth is itself; what can the stars of the sky do? (9.4.26-27).” Kautilya (p. 664) observed, “On the other hand, one fighting with a tiny army perishes like one trying to cross the ocean without a boat (12.1).”	He (p. 11) states that machines “facilitate and abridge labor, and enable one man to do the work of many.” Adam Smith (p. 13, ft. 1): [Examples are given in Lectures, p. 167: “Two men and three horses will do more in a day with the plough than twenty men without it. The miller and his servant will do more with the water mill than a dozen with the hand mill, though it too be a machine.”]
Importance of labor	He (p. 619) stated, “The value of land is what man makes of it (7.11).” He (p. 621) added, “A king who trusts in fate and does not believe in human effort will fail because such a king never begins a work and never achieves anything (7.11).” He (p. 685) stated, “It is better to have either an army composed of Kshatriyas trained in the use of weapons or a Vaishya or Sudra army with a large number of men (9.2).”	p. 351: “There is one sort of labor which adds to the value of the subject upon which it is bestowed: there is another which has no effect. The former, as it produces a value, may be called productive; the latter, unproductive.”
Importance of land	Kautilya (p. 617) stated, “Among the signatories to a treaty for a joint campaign, he who acquires land [whether settled land or virgin land] with [the maximum number of] ideal qualities and with many developed productive facilities outman oeuvres the others (7.10).”	He (p. 195) states, “The acquisition of new territory, or of new branches of trade, may sometimes raise the profits of stock, and with them the interest of money, even in a country which is fast advancing in the acquisition of riches.”
Role of institutions	Kautilya (p. 108) observed, “By maintaining order, the king can preserve what he already has, acquire new possessions, augment his wealth and power, and share the benefits of improvement with those worthy of such gifts. The progress of this world depends on the maintenance of order and the [proper functioning of] government (1.4).”	(Bk. V, Ch. III, p. 445) “Commerce and manufactures can seldom flourish long in any state which does not enjoy a regular administration of justice, in which people do not feel themselves secure in the possession of their property, in which the faith of contracts is not supported, and in which the authority of the state is not supposed to be regularly employed in enforcing the payment of debts from all those who are able to pay.”