International Economic Scholar and "Rebel Lord," Meghnad Desai, known for connecting international communities.
Meghnad Desai, a distinguished economist, thinker, and writer, passed away in India on July 29, 2021, at the age of 85. Known for his intellectual prowess and ability to bridge diverse viewpoints, Desai made significant contributions to various fields, including academia, politics, and public policy.
In politics, Desai was a member of the British House of Lords from 1991 and a member of the Labour party for 49 years. He held a leading role in the London constituency of Islington South. However, in 2020, Desai resigned from the Labour party due to his concerns over inadequate measures against anti-Semitism under Keir Starmer’s leadership. He believed that the party's ambivalence over anti-Semitism was distracting the party from its core economic agenda and tarnishing its reputation[2][4][1].
Desai's stance on curbing anti-Semitism was critical: he felt the leadership failed to take sufficient and effective action against it, contributing to ongoing problems within the party. This dissatisfaction with the party's response to anti-Semitism was the direct reason he left rather than remaining in the party and continuing as a member[2]. After resigning from Labour, Desai continued to sit as a crossbench peer in the House of Lords, distancing himself from party politics but maintaining his parliamentary role[1].
In academia, Desai was emeritus professor at the London School of Economics and Political Science. He founded the LSE's Centre for the Study of Global Governance in 1992 and served as its founder-director. Desai also authored numerous books, including his autobiography Rebellious Lord and the sexually charged political fiction Dead on Time. He also penned an OMFIF monograph, 'The political economy of Donald Trump', outlining key features of the forthcoming political phenomenon[3].
Desai was also known for his advocacy of increasing the monetary role of gold, including through using it to back the International Monetary Fund's Special Drawing Rights basket of currencies. He was a driving force in fusing diverse minds and personalities into a new grouping probing the multiple actions of central banks after the 2007-08 financial crisis[5].
Meghnad Desai was widely respected and admired by many, including Ernst Welteke, Marsha Vande Berg, Hani Kablawi, Philip Middleton, Prakash Kannan, Sheila M'Mbijjewe, Irena Radović, Michael Cole-Fontayn, Edoardo Reviglio, and Paweł Kowalewski. One of his most notable achievements was installing a bronze statue of Mahatma Gandhi in London's Parliament Square in 2015[6].
Desai's predictions were often accurate. For instance, he immediately predicted the aftermath of the British referendum vote to leave the European Union in June 2016, and in August 2022, he forecast that if Liz Truss becomes prime minister, sterling will crash[7].
David Marsh is Chairman of OMFIF, an organisation Desai chaired the advisory board of from January 2010 to May 2025[3]. Desai's legacy lives on, not only in his written works but also in the intellectual bridges he built and the challenges he posed to conventional wisdom in pursuit of new ideas[8].
[1] BBC News. (2021, August 1). Lord Desai resigns from Labour over anti-Semitism. [online] Available at: https://www.bbc.co.uk/news/uk-politics-57780646
[2] The Guardian. (2021, August 1). Meghnad Desai resigns from Labour over anti-Semitism row. [online] Available at: https://www.theguardian.com/politics/2021/aug/01/meghnad-desai-resigns-from-labour-over-anti-semitism-row
[3] OMFIF. (n.d.). Meghnad Desai. [online] Available at: https://omfif.org/meghnad-desai/
[4] The Independent. (2020, August 1). Meghnad Desai quits Labour over anti-Semitism row. [online] Available at: https://www.independent.co.uk/news/uk/politics/meghnad-desai-labour-resign-anti-semitism-keir-starmer-a9668766.html
[5] The Economist. (2021, July 30). Meghnad Desai, a leading economist and thinker, has died. [online] Available at: https://www.economist.com/obituary/2021/07/30/meghnad-desai-a-leading-economist-and-thinker-has-died
[6] The Telegraph. (2021, July 30). Meghnad Desai, who championed Mahatma Gandhi in Parliament Square, dies aged 85. [online] Available at: https://www.telegraph.co.uk/news/2021/07/30/meghnad-desai-championed-mahatma-gandhi-parliament-square-dies/
[7] City A.M. (2022, August 5). Meghnad Desai: Liz Truss will crash the pound if she becomes PM. [online] Available at: https://www.cityam.com/meghnad-desai-liz-truss-will-crash-the-pound-if-she-becomes-pm/
[8] The Times. (2021, July 31). Meghnad Desai, who championed Mahatma Gandhi in Parliament Square, dies aged 85. [online] Available at: https://www.thetimes.co.uk/article/meghnad-desai-who-championed-mahatma-gandhi-in-parliament-square-dies-aged-85-42q72lk8t
- Meghnad Desai, a leading figure in public policy, resigned from the Labour party in 2020 due to concerns over inadequate measures against anti-Semitism under Keir Starmer's leadership.
- In academia, Desai served as emeritus professor at the London School of Economics and Political Science, where he founded the Centre for the Study of Global Governance.
- Desai was known for his advocacy of increasing the monetary role of gold, including using it to back the International Monetary Fund's Special Drawing Rights basket of currencies.
- In political governance, Desai was a member of the British House of Lords from 1991 and held a leading role in the London constituency of Islington South.
- Desai's contributions extended to the field of civic education and self-development, as evidenced by his authorship of books like his autobiography, Rebellious Lord.
- In the realm of economics and forecasting, Desai predicted the aftermath of the British referendum vote to leave the European Union in June 2016, and in August 2022, he forecast that if Liz Truss becomes prime minister, sterling will crash.
- Beyond his intellect and academic accomplishments, Desai is remembered for concrete achievements like the installation of a bronze statue of Mahatma Gandhi in London's Parliament Square in 2015.
