Lord Meghnad Desai, a distinguished economist and British peer of Indian origin, leaves behind a rich legacy of scholarship, policy influence, and cultural insight
Bhaskar Parichha
Born in Vadodara, Lord Meghnad Jagdishchandra Desai, also known as Baron Desai, was a distinguished economist, academic, and Labour politician of Indian origin who later became a British citizen. His death was deeply felt by many, with tributes emphasizing his significant contributions to the field of economics, his efforts to strengthen UK-India relations, and his strong connection to Indian culture.
Desai is survived by his spouse, Lady Kishwar, along with their children.
He held the title of Professor Emeritus at the London School of Economics (LSE), where he imparted knowledge from 1965 until 2003. Desai obtained both his bachelor’s and master’s degrees in economics from the University of Mumbai and completed his doctorate at the University of Pennsylvania in 1961.
A notable figure within the British Labour Party since 1971, Desai was the Chairman of the party from 1986 to 1992 and was granted the title of life peer as Baron Desai of St Clement Danes in 1991. He was an active participant in the House of Lords, taking on various roles including opposition whip and spokesperson for treasury and economic matters. In 2011, he ran for the position of Lord Speaker but was not successful.
Desai established the Meghnad Desai Academy of Economics (MDAE) in Mumbai, which provides a one-year postgraduate diploma in economics emphasizing applied learning. In recognition of his contributions to economics and public service, he received the Padma Bhushan, India’s third-highest civilian award, in 2008.
Desai identified as an atheist and served as an Honorary Associate of the National Secular Society. He had a profound interest in Indian cinema, especially the films of Dilip Kumar, and wrote extensively on how cinema mirrored India’s evolving socio-political context. Additionally, he held the position of chairman of the Official Monetary and Financial Institutions Forum (OMFIF) Advisory Board in 2023.
He stressed the importance of analyzing the world through the perspectives of politics and economics, offering insights into income inequality, technological progress, and cultural identity.
Renowned for his intellectual bravery and diverse intellect, Desai was honored for his ability to challenge established norms and connect Indian and British viewpoints. His contributions continue to shape the fields of economics, political dialogue, and cultural analysis.
Lord Desai wrote over 200 scholarly articles and authored more than 20 books. His research encompassed Marxian economics, globalization, economic development, and the socio-political implications of Indian cinema.
‘Marx’s Revenge: The Resurgence of Capitalism and the Death of Statist Socialism (2002) is a defense of free-market capitalism, contending that Marx’s forecasts regarding capitalism’s durability were misinterpreted, and that statist socialism overlooked the complexities of market dynamics.
Nehru’s Hero: Dilip Kumar in the Life of India (2004) is Desai’s preferred work, which delves into the socio-political influence of Indian cinema through the perspective of actor Dilip Kumar’s films, mirroring India’s identity after independence.
Rethinking Islamism: The Ideology of the New Terror (2006) is a thorough examination of the ideological foundations of contemporary terrorism, investigating the relationship between religion, politics, and international conflicts.
The Rediscovery of India (2009) is a comprehensive historical and economic study of India’s progress, tracing its journey from colonial rule to its rise as a global power.
Hubris: Why Economists Failed to Predict the Crisis and How to Avoid the Next One (2015) serves as a critique of the shortcomings in economic forecasting during the 2008 financial crisis, offering recommendations for enhancing economic models.
In Politicshock: Trump, Modi, Brexit & the Prospect for Liberal Democracy (2018), the author explores the emergence of populist movements, drawing comparisons between political transformations such as Brexit, the election of Trump, and Modi’s governance, along with their effects on democracy.
The Route of All Evil: The Political Economy of Ezra Pound (2006) presents a specialized analysis that merges economic critique with the contentious political and economic perspectives of the poet Ezra Pound.
Development and Nationhood: Essays in the Political Economy of South Asia (2005) comprises a series of essays addressing the economic and political evolution of South Asia, with a particular emphasis on the challenges and prospects facing India.
The Bombay High (2019) is a fictional narrative that intertwines Desai’s affection for Bombay (Mumbai) with insights into its economic and cultural landscape, highlighting his prowess in storytelling.
Povertist: A Short History of Poverty in India (co-authored, 2010) examines the enduring issue of poverty in India, offering critiques of existing policy measures and suggesting economic remedies.
In a way, his writings embody his varied interests, ranging from in-depth economic theory to cultural analysis.
(The author is a senior journalist and columnist. Views expressed are personal.)