July 31, 2025

On July 29, 2025, the world lost one of its most brilliant minds, Lord Meghnad Desai, an Indian-origin economist, member of the UK’s House of Lords, and a vital bridge between economics, politics, and academia. Desai, who passed away at the age of 85 in London, leaves behind an extraordinary legacy characterized by his intellectual contributions to public policy, education, and international relations. Meghnad Desai was born in Vadodara, India, on July 10, 1940. His upbringing in a culturally rich environment cultivated a profound curiosity about social and economic disparities. He graduated in economics from the University of Mumbai before pursuing his PhD at the University of Pennsylvania. During his formative years, Desai developed a keen interest in development theory, focusing on poverty and inequality, which later defined his scholarly work. Desai joined the London School of Economics (LSE) faculty in 1965 and became a significant voice in global economic discussions. By 1983, he was appointed Professor of Economics and later became Professor Emeritus after retiring in 2003. Desai founded the Centre for the Study of Global Governance at LSE in 1992, further cementing his role as an expert in international development and governance. His teaching style was marked by engagement and encouragement of critical thinking among students. He discussed not just traditional economics but also debated systems like capitalism, socialism, and their implications for emerging economies. This approach inspired many students who viewed him as not just a professor but a mentor as well. A significant milestone in Desai’s career was his entry into the UK politics when he was elevated to the peerage as Lord Desai of St Clement Danes in 1991. Through the House of Lords, he had a unique platform to voice concerns about economic development and social issues, particularly as they pertained to the UK and India. Though he initially aligned with the Labour Party, he later chose to sit on the crossbenches, valuing his independence and ability to speak on various ideological matters including economic inequality and international cooperation. Desai's prolific writing complemented his academic career. He authored more than a dozen books and published over 200 scholarly articles on subjects ranging from global capitalism to India’s socio-economic dynamics. Notable works include 'Marxian Economic Theory' and 'India Grows at Night', each reflecting his intellectual depth and understanding of markets and government interactions. His contributions significantly enhanced India-UK relations, as he remained engaged with developments in India while residing in the UK. His insights on India’s liberalization in the 1990s and advocacy for policy reforms solidified his position as a trusted voice in both Indian and British media. Recognized for his contributions, Desai received various accolades, including the Padma Bhushan from the Indian government in 2008. He was honored with several honorary doctorates and participated in advisory roles for international organizations, including the UN and World Bank. Desai’s passing has evoked tributes from leaders and scholars around the world. Indian Prime Minister Narendra Modi honored him as a "distinguished thinker and reformer", while former Reserve Bank of India Governor Raghuram Rajan praised Desai's courage to pose challenging questions. Many have reflected on his warmth, clarity, and insatiable curiosity. The legacy left by Lord Meghnad Desai is not just evident in his extensive writings or influential speeches, but also in his relentless pursuit of truth, reason, and intellectual freedom. His core belief rested on the potential for democratic capitalism to achieve inclusive growth, an idea that resonates strongly amid today’s global crises of inequality and political extremism. Even after his departure, Desai's teachings remain a crucial part of the conversation on the ideological divides faced today. His life exemplified the power of ideas rooted in empathy and bravery, having a lasting impact on generations seeking to bridge opposites in the realms of economics and politics.

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Tags: Meghnad desai, Economist, House of lords, India-uk relations, Academic contributions,