Meghnad Desai (1940–)

  • P. N. (Raja) JunankarEmail author


Meghnad Desai has had a distinguished career as an economist, a political scientist and a politician: he is a Renaissance man. He has published numerous books and academic papers on a variety of topics, including Marxian economics, agricultural economics, development economics and macroeconomics. Besides his academic interests, he has been involved in movies and theatre. Meghnad has always been concerned with social issues. He was born in India and did his undergraduate education in Bombay, his doctorate at Pennsylvania, and began his academic career in the Agricultural Department at the University of California, Berkeley, before moving to LSE. After retiring from LSE, in 2015 he collaborated with some of his former students to establish an academic institution in India, the Meghnad Desai Academy of Economics (MDAE).


Econometric models Inflation Monetarism Capitalism Marxian economics Poverty Predator-prey models Austerity 


Main Works by Meghnad Desai

  1. Anderton, R. and M. Desai (1988). ‘Modelling Manufacturing Imports’. National Institute Economic Review, 123(1): 80–86.CrossRefGoogle Scholar
  2. Desai, M. (1966). ‘An Econometric Model of the World Tin Economy, 1948–1961’. Econometrica, 34(1): 105–134.CrossRefGoogle Scholar
  3. Desai, M. (1970). ‘Vortex in India’. New Left Review, I/61 (May–June): 43–60.Google Scholar
  4. Desai, M. (1973). ‘Growth Cycles and Inflation in a Model of the Class Struggle’. Journal of Economic Theory, 6(6): 527–545.CrossRefGoogle Scholar
  5. Desai, M. (1974). Marxian Economic Theory. London: Gray-Mills.Google Scholar
  6. Desai, M. (1975). ‘The Phillips Curve: A Revisionist Interpretation’. Economica, New Series, 42(165): 1–19.CrossRefGoogle Scholar
  7. Desai, M. (1976a). Applied Econometrics. Oxford: Philip Allan.Google Scholar
  8. Desai, M. (1976). ‘The Consolation of Slavery’. Economic History Review, New Series, 29(3): 491–503.CrossRefGoogle Scholar
  9. Desai, M. (1981). Testing Monetarism. London: Pinter.Google Scholar
  10. Desai, M. (1984). ‘A General Theory of Poverty? A Review Article’. Indian Economic Review, New Series, 19(2): 157–169.Google Scholar
  11. Desai, M. (1986). ‘Men and Things’. Economica, New Series, 53(209): 1–10.CrossRefGoogle Scholar
  12. Desai, M. (1988). ‘The Transformation Problem’. Journal of Economic Surveys, 2(4): 295–333.CrossRefGoogle Scholar
  13. Desai, M. (1989). ‘The Scourge of the Monetarists: Kaldor on Monetarism and on Money’. Cambridge Journal of Economics, 13(1): 171–182.Google Scholar
  14. Desai, M. (1989). Lenin’s Economic Writings. Atlantic Highlands, NJ: Humanities Press International.Google Scholar
  15. Desai, M. (1991). ‘The Agrarian Crisis in Medieval England: A Malthusian Tragedy or a Failure of Entitlements?’. Bulletin of Economic Research, 43(3): 223–258.CrossRefGoogle Scholar
  16. Desai, M. (1991). ‘Human Development: Concepts and Measurement’. European Economic Review, 35(2–3): 350–357.CrossRefGoogle Scholar
  17. Desai, M. (1992). ‘Is There Life After Mahalanobis? The Political Economy of India’s New Economic Policy’. Indian Economic Review, New Series, 27(Special Number): 155–164.Google Scholar
  18. Desai, M. (1995). ‘An Endogenous Growth Cycle with Vintage Capital’. Economics of Planning, 28(2–3): 87–91.CrossRefGoogle Scholar
  19. Desai, M. (1995). Macroeconomics and Monetary Theory: The Selected Essays of Meghnad Desai. Volume 1. Aldershot: Edward Elgar.Google Scholar
  20. Desai, M. (1995). Poverty, Famine and Economic Development: The Selected Essays of Meghnad Desai. Volume 2. Aldershot: Edward Elgar.Google Scholar
  21. Desai, M. (1998). ‘Development Perspectives: Was There an Alternative to Mahalanobis?’. Chapter 2 in I.M.D. Little and I.J. Ahluwalia (eds) India’s Economic Reforms and Development: Essays for Manmohan Singh. New Delhi: Oxford University Press: 40–48.Google Scholar
  22. Desai, M. (2000). ‘Review of Unintended Consequences: The Impact of Factor Endowments, Culture, and Politics on Long-Run Economic Performance, by D. Lal’. Journal of Economic Literature, 38(2): 414–415.Google Scholar
  23. Desai, M. (2001). ‘Amartya Sen’s Contribution to Development Economics’. Oxford Development Studies, 29(3): 213–223.CrossRefGoogle Scholar
  24. Desai, M. (2002). Marx’s Revenge: The Resurgence of Capitalism and the Death of Statist Socialism. London: Verso.Google Scholar
  25. Desai, M. (2003). ‘Review of Economic Policy Reforms and the Indian Economy, by A.O. Krueger’. Journal of Economic Literature, 41(2): 614–616.Google Scholar
  26. Desai, M. (2009). The Rediscovery of India. New Delhi: Penguin.Google Scholar
  27. Desai, M. (2015). Hubris: Why Economists Failed to Predict the Crisis and How to Avoid the Next One. New Haven and London: Yale University Press.Google Scholar
  28. Desai, M. (unpublished). Autobiography. Draft.Google Scholar
  29. Desai, M. and D. Blake (1982). ‘Monetarism and the US Economy: A Re-evaluation of Stein’s Model, 1960–1973’. Journal of Monetary Economics, 10(1): 111–125.CrossRefGoogle Scholar
  30. Desai, M. and S.G. Hall (2003). ‘S.G.B. Henry: A Memoir and a Festschrift Essay’. Economic Modelling, 20(2): 227–236.CrossRefGoogle Scholar
  31. Desai, M., D.F. Hendry and G.E. Mizon (1997). ‘John Denis Sargan’. Economic Journal, 107(443): 1121–1125.CrossRefGoogle Scholar
  32. Desai, M. and S.G.B. Henry (1970). ‘Fiscal Policy Simulation for the UK Economy’. Chapter 14 in K. Hilton and D.F. Heathfield (eds) The Econometric Study of the United Kingdom. London: Macmillan: 351–374.Google Scholar
  33. Desai, M., S.G.B. Henry, A. Mosley and M. Pemberton (2006). ‘A Clarification of the Goodwin Model of the Growth Cycle’. Journal of Economic Dynamics and Control, 30(12): 2661–2670.CrossRefGoogle Scholar
  34. Desai, M. and D. Mazumdar (1970). ‘A Test of the Hypothesis of Disguised Unemployment’. Economica, New Series, 37(145): 39–53.CrossRefGoogle Scholar
  35. Desai, M., S.H. Rudolph and A. Rudra (1984). Agrarian Power and Agricultural Productivity in South Asia. Los Angeles and London: University of California Press.Google Scholar
  36. Desai, M. and A. Shah (1988). ‘An Econometric Approach to the Measurement of Poverty’. Oxford Economic Papers, New Series, 40(3): 505–522.CrossRefGoogle Scholar
  37. Desai, M. and G. Weber (1988). ‘A Keynesian Macro-econometric Model of the UK: 1955–1984’. Journal of Applied Econometrics, 3(1): 1–33.CrossRefGoogle Scholar
  38. Henry, S.G.B. and M. Desai (1975). ‘Fiscal Policy Simulations and Stabilization Policy’. Review of Economic Studies, 42(3): 347–359.CrossRefGoogle Scholar
  39. Kumar, D. and M. Desai (eds) (1983). The Cambridge Economic History of India: Volume 2: c. 1757-c. 1970. Cambridge: Cambridge University Press.Google Scholar
  40. Shah, A. and M. Desai (1981). ‘Growth Cycles with Induced Technical Change’. Economic Journal, 91(364): 1006–1010.CrossRefGoogle Scholar

Other Works Referred To

  1. Gilbert, C.L. (1976). ‘The Original Phillips Curve Estimates’. Economica, New Series, 43(169): 51–57.CrossRefGoogle Scholar
  2. Junankar, P.N. (Raja) (1982). Marx’s Economics. Oxford: Philip Allan.Google Scholar
  3. Junankar, P.N. (Raja) (2012). ‘Review of The Global Minotaur: America, the True Origins of the Financial Crisis and the Future of the World Economy, by Y. Varoufakis’. Economic and Labour Relations Review, 23(2): 135–141.Google Scholar
  4. LSE (2010). ‘Celebrating the Work and Legacy of Professor Lord Meghnad Desai’. Available at:
  5. MDAE (2015). ‘Post Graduate Program in Economics and Finance’. Available at:
  6. Sargan, J.D. (1964). ‘Wages and Prices in the United Kingdom: A Study in Econometric Methodology’. In P.E. Hart, G. Mills and J.K. Whitaker (eds) Econometric Analysis for National Economic Planning. Volume 16. Colston Papers. London: Butterworths: 25–54, with discussion.Google Scholar
  7. Sargan, J.D. (1988). Lectures on Advanced Econometric Theory. Edited and with an introduction by Meghnad Desai. Oxford: Basil Blackwell.Google Scholar
  8. Townsend, P. (1962). ‘The Meaning of Poverty’. British Journal of Sociology, 13(3): 210–227.CrossRefGoogle Scholar
  9. Varoufakis, Y. (2005). ‘A Hard Spectre to Silence: Meghnad Desai’s Marx’s Revenge’. Science & Society, 69(4): 617–625.CrossRefGoogle Scholar
  10. Woolf Inquiry (2011). ‘An Inquiry into the LSE’s Links with Libya and Lessons to be Learned’. Available at:

Copyright information

© The Author(s) 2019

Authors and Affiliations

  1. 1.Western Sydney University, Sydney and UNSW CanberraCanberraAustralia

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