Megnadh Desai, eminent economist & House of Lords member, passes away

Eminent economist and House of Lords member Megnadh Desai passed away on Tuesday. Born in India's Gujarat, Desai was the emeritus professor of economics at the London School of Economics, where he taught from 1965 to 2003.

The Padma Bhushan awardee completed his master’s degree from the University of Bombay (now Mumbai) after which he was offered an opportunity to study at the University of Pennsylvania in 1960, where he completed a PhD three years later.

He was made Lord Desai of St Clement Danes on April 30, 1991. The economist has had a great impact in the academic and political realms in Britain as a London School of Economics (LSE) professor, Labour politician and honorary associate of the National Secular Society.


In 1992, Desai established the Centre for the Study of Global Governance at the LSE. From 1990 to 1995, he was director and founding member of the LSE’s Development Studies Institute.

Desai’s research spanned for over 50 years across a range of topics related to the impact of the private sector and the state in development and Marxian economics, including globalisation and market liberalisation.

He started writing about Marxian Economic Theory in the early 1970s and extended his fields of interest to econometrics, monetarism and economic development.

Some of his books include Marxian Economic Theory, book Marx's Revenge: The Resurgence of Capitalism and the death of Statist Socialism, The Rediscovery of India, Who Wrote the Bhagwadgita and Nehru's hero Dilip Kumar. He has also written over 200 academic articles.

Desai was an active member of the British Labour Party and as Chairman between 1986 and 1992. It was towards the end of his chairmanship that he was made life peer as Baron Desai in the City of Westminster in April 1991.

Prime Minister Narendra Modi also expressed his condolences to the family of Meghnad Desai. Sharing his message on X, the PM wrote: "Anguished by the passing away of Shri Meghnad Desai Ji, a distinguished thinker, writer and economist. He always remained connected to India and Indian culture. He also played a role in deepening India-UK ties. Will fondly recall our discussions, where he shared his valuable insights. Condolences to his family and friends. Om Shanti."