Meghnad Desai : Meghnad Desai, born on 10th July 1940, is a name synonymous with brilliance, resilience, and unwavering dedication. This Indian-born naturalized British economist and former Labour politician has left an indelible mark on the world of economics, politics, and academia.
Early Life and Academic Pursuits
Meghnad Desai’s journey to greatness began in Vadodara, Gujarat, India. Growing up with two brothers and a sister, his early life was marked by a thirst for knowledge that set him on an exceptional trajectory. At the age of seven, he embarked on his secondary school education, and by 14, he had matriculated.
Desai’s academic prowess led him to earn a bachelor’s degree in economics from Ramnarain Ruia College, affiliated with the University of Mumbai. His thirst for knowledge drove him to pursue a master’s degree in economics from the Department of Economics (now the Mumbai School of Economics and Public Policy) at the University of Mumbai.
This determination paid off when he won a scholarship to the University of Pennsylvania in August 1960, where he completed his Ph.D. in economics in 1963.
Political Career: A Commitment to Change
Meghnad Desai’s commitment to change extended beyond academia. He actively engaged in the British Labour Party, serving as its chairman from 1986 to 1992. His dedication to political service was further exemplified by his appointment as a life peer, taking the title Baron Desai of St Clement Danes in the City of Westminster on 5th June 1991.
His involvement in Labour Friends of Israel underscored his commitment to diplomacy and international relations. However, in a principled stand against antisemitism concerns, he resigned from the Labour Party in November 2020, after the readmission of former Party Leader Jeremy Corbyn as a member.
Academic Eminence: Shaping Minds
Meghnad Desai’s influence on the academic landscape is undeniable. He commenced his career as an Associate Specialist in the Department of Agricultural Economics at the University of California, Berkeley. However, it was at the London School of Economics where his impact truly shone.
Joining the LSE in 1965, he eventually rose to the position of professor of economics in 1983. Over the years, he imparted his wisdom on subjects ranging from econometrics and macroeconomics to Marxian economics and development economics.
Meghnad Desai & His Role
Desai’s dedication was reflected in his role as the head of LSE’s Development Studies Institute from 1990 to 1995 and his leadership of LSE Global Governance from 1992 to 2003, the year of his retirement.
Desai’s academic contributions extended to the realm of literature, with books like “Marx’s Revenge: The Resurgence of Capitalism and the Death of Statist Socialism” challenging conventional economic thinking. His writings often garnered praise for their depth and insight, transcending disciplinary boundaries.
A Multifaceted Legacy of Meghnad Desai
Meghnad Desai’s legacy is not confined to academia and politics alone. His biography of Indian film star Dilip Kumar, titled “Nehru’s Hero: Dilip Kumar in the Life of India,” showcased his diverse interests. By drawing parallels between cinema and socio-political developments in India, he revealed a deep understanding of cultural dynamics.
In the world of finance and global policy, Desai continues to shine. As the chairman of the Official Monetary and Financial Institutions Forum (OMFIF) Advisory Board, he contributes to off-the-record public and private sector engagement, guiding critical discussions on global policy and investment themes.
Founder of the Meghnad Desai Academy of Economics
In his commitment to education, Lord Desai founded the Meghnad Desai Academy of Economics (MDAE) in Mumbai. This institution offers a one-year post-graduate diploma in economics, emphasizing applied learning and case studies over rote memorization. Through workshops and seminars with renowned economics and finance professionals, MDAE prepares students for real-world challenges.
A Stand for Integrity: Saif Al-Gaddafi Thesis
Meghnad Desai’s commitment to integrity was exemplified in his role as one of the examiners of Saif al-Islam Gaddafi’s PhD thesis. When faced with a weak thesis, he insisted on rigorous examination and revision. His subsequent demand for the return of a donation from Saif Gaddafi’s charity to the LSE showcased his unwavering principles.
Personal Life and Beyond
In his personal life, Meghnad Desai’s journey has been marked by resilience and reinvention. His marriage to Kishwar Desai, an editor he met during the course of his biography on Dilip Kumar, marked a new chapter. His association with the National Secular Society and the 1928 Institute reflects his commitment to secularism and progressive values.
Meghnad Desai’s Literary and Intellectual Contributions
Meghnad Desai’s literary and intellectual contributions are a testament to his multifaceted talents. His works span from seminal economic texts to novels and literary critiques. Notable works include “The Phillips Curve: A Revisionist Interpretation,” “Marx’s Revenge: The Resurgence of Capitalism and the Death of Statist Socialism,” and “The Poverty of Political Economy: How Economics Abandoned the Poor.”
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