Winds from the East: ignored ancient Asian views on international trade and traders

Abstract

This article addresses the issue that the history of economic thought on international trade is dominated by a Western perspective and sets a first step to decolonise economic thinking by discussing the position of merchants and their commercial activities across the five major philosophies of life in ancient Asia–Hinduism, Buddhism, Confucianism, Chinese Legalism, and Islam. We find significant dissimilarities in the appreciation and perception of international economic activity both across these five philosophies of life as well as in comparison to pre-economic Western thinking and argue that it is important to recognise this heterogeneity in future (empirical) research. A more inclusive view of the ideas embedded in ancient philosophies of life that shaped societies’ attitudes towards international trade throughout history is important for a better understanding of present-day international economic relationships in a world of growing multidimensional integration.