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© 2012 Sanjeev Sabhlok's revolutionary blog
Update: I'm thinking of re-launching the International Indian Economists Association that I had started in 1999 but which came to a premature end due to my severe RSI. Please visit this page and let me know what you think.
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Since I vigorously advocate a dramatic increase in economics education in India, I am perhaps obliged to list out a few Indian economists (past and present) whose work can form the basis of an expanded program in economics eduction in India. Of course, India would need to take into account good thinkers from the entire world, particularly Hayek. But building a list of good Indian economists could prove useful to those looking to frame a reading list for undergraduates in colleges across India. Note that this list is not restricted to qualified economists alone; sometimes those not highly qualified in economics may have value to add. Also, I do not necessarily support all the work of these economists, but most disputes I have with them are on the fringe, not detracting from the intrinsic value of their work.
This list is likely to be incomplete, since I read more political philosophy than economics these days, so I'm happy to add to it based on your recommendations (provided you exclude those with leftist inclinations – of which there are just too many in India!). Send your recommendations through the comments section.
The list is in alphabetical order of first name. Not all these economists are living today but the works of those who have passed away (or in due course will certainly pass away!) can be used as a basis for designing good educational material for high school and first year University students across India. Everyone in India (and the world) must be economics literate. Else the country is basically doomed to repeat its mistakes again, and again.
Professional Economists (not just PhD in Economics, but published in peer reviewed journals)
- Bellikoth Shenoy – the doyen of Indian economists
- Sudhir Jayantilal Mulji (1938-2005)
- Deepak Lal
- Jagdish Bhagwati [see my comment here]
- Nirvikar Singh
- Avinash Dixit
- T. N. Srinivasan
- Pranab Bardhan
- Subroto Roy
Good economic thinkers (not necessarily with PhD in Economics). Most of these have published extensively but not in academic peer reviewed journals.
- Ashok Desai
- Parth Shah
- Bibek Debroy
- Barun Mitra
- Sharad Joshi
- Swaminathan S. Anklesaria Aiyar
- Gurcharan Das
- Atanu Dey (PhD Eco)
Budding young economists
- Balakrishnan Chandrasekaran (Planning Commission)
- Yazad Jal (USA)
Candidates under review
I'm not familiar with all Indian economists. The following are interesting candidates for inclusion in this list:
- Surjit Bhalla
- Suresh Tendulkar
Why is Amartya Sen not listed here?
I've often been asked this, so I've explained at length here.
Why is Kaushik Basu not listed here?
See details here.
Why is Montek Singh Ahluwalia not listed here?
See details in my blog post: Montek, you’re a fool if you imagine you can “predict” inflation
Related post
The deplorable state of India's economic education.
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Related posts:
- Some good news: funding of Indian political parties to be closely monitored
- A Note of Dissent on the Memorandum of the Panel of Economists, by Prof. B. R. Shenoy
- Good advice for Indian voters from Madhava Reddy
- The Keynesians have hijacked America – leaving the field open for nations that follow good policy
- Good books I’ve come across in the past few years
- Baba Ramdev a good man, but how does one get him to understand good policy?
- Preliminary list of references to assist Bhagwad/Anuj in preparing their suicide letter
- The idiot Keynesian economists of this world. No clothes, yet promoted to the top
- Et tu, Basu?
- Economists as actors, not observers
To spread the message of liberty and critical thinking, please share this post
I shall be gratefl if I may be enlisted on your list for keeping me updated on economic and financial issues as also about the economists and financial experts.
Thanks
DEAR SIR ,
I WANT TO KNOW MORE ABT OUR PRACHIN & ARWACHIN ECONOMISTS OF INDIA AS HERE IN INDIA IT WAS CALLED SONE KI CHIDYA & DUDH KI NADIYA WAS FLOWING HERE , EACH & EVERY COUTRY MAN WAS DIEING TO VISIT INDIA LIKE TODAYS USA.
SIR CAN U GIVE YOUR OPINION ON IT , PLZ IF U CAN GIVE ME SOME OF THE DETAIL OF OUR ECONOMIST SHRIMANT NARAYAN OF ALLAHABAD UNIVERSITY , MR J. K. MEHTA OF ALLAHABAD UNIVERSWITY TOO , & OBLIGE .
THANKING YOU ,
DEEPAK PANDYA
9898050643
Dear Deepak
I'm afraid I have no knowledge of the works of the two economists you refer to. Please assess for yourself, and if you want me to include their names in this list please send me links to their writings.
Re: India's history, it was RELATIVELY rich (barely so, though) compared to many others. Indeed, the entire world was VERY, VERY poor.
Since classical liberalism came on the scene, and the ideas of liberty better understood, the West has become about 100 times wealthier than what India was, when it was a "Sone ki Chidiya".
From my readings of Arthashastra (which is renowned as the economic text of ancient India) I couldn't find THE LEAST evidence that Chanakya understood the conception of freedom, markets, and the price system. Hence I don't recommend Chanakya as a good Indian economist. He wouldn't get a job as a junior economist in any organisation in the West today – with his kind of knowledge.
Regards
Sanjeev
Why didnt you name Amartya Sen in the list since he does teaching in Delhi Uni from time to time.
I don’t recommend his economics.
Since your list is about 'good" Indian Economist, you think that Amartya Sen is not "good" or you dont recommend his economics. Any particular reason, if it is possible to explain in few sentences.
I find him quite an intellectual and am regular podcast listener of his lectures in Oxford and LSC. His recent books like Theory of Justice is quite facinating to get a view about "just society" and philosophical underpinnings for a laymen like myself.
Amartya Sen is a socialist. He wants more government intervention at every step. He says he likes markets, but then he continuously advocates government intervention. I don't think he even understands how governments actually work. I don't recommend his work.
Regards
Sanjeev
Very good and relevant post. We do need more economists in India and aim should be to use economist to make differences in the day-to-day lives of people rather than write articles.
I have a question, may be you can answer. Who was the person who thought out Slum Rehab Plan of Mumbai, where towers would be constructed in place of slums and slum dwellers would get free flats in the buildings? Or is this concept copied from some other country? Would be great to find…
Regards,
Rahul
Also, an economic analysis if Garib Rath trains make profits or losses in India…
Indeed, you are right. We need a LOT more economists to be employed by the Indian government. Currently there are very few economists inside the government.
Re: Slum Rehab plan/ Garib Rath etc. I’d suggest checking the websites of the relevant departments. I’m not aware of the detailed business case that underpins these projects.