Mentor, titleholder of 'Rebellious Lord', global bridge-driver Meghnad Desai

Mentor, titleholder of 'Rebellious Lord', global bridge-driver Meghnad Desai

Prominent Economist and Labour Peer Meghnad Desai Passes Away

Meghnad Desai, a renowned economist, scholar, and Labour peer, passed away recently. Desai, who was a member of the British House of Lords since 1991, was known for his brusque and incisive nature, yet he was also a reliable, good-hearted, witty, generous, and insightful individual.

Desai's career was marked by numerous achievements. He was an emeritus professor at the London School of Economics and Political Science and a founder-director of the LSE's Centre for the Study of Global Governance, established in 1992. He also served as a director at Elara Capital, an Indian securities firm.

One of Desai's most notable contributions was his role in the installation of a bronze statue of Mahatma Gandhi in London's Parliament Square. He was also a constant advocate of increasing the monetary role of gold.

In the realm of academia, Desai wrote extensively on various subjects. His works included a monograph, "The political economy of Donald Trump", published in 2016. He was also the author of an autobiography, "Rebellious Lord", published in 2020. Desai was particularly fond of literature, owning a vast collection, including many works on Gandhi.

Desai's political career was not without controversy. In 2020, he resigned from the Labour party, a move he had been a member of for 49 years, explicitly due to his dissatisfaction with how the party handled anti-Semitism. He felt that under Keir Starmer's leadership, the party had not done enough to curb anti-Semitism within its ranks[1][2][3].

His stance was critical of the party’s inadequate response to allegations of anti-Semitism, especially during the period when Jeremy Corbyn was readmitted as leader despite accusations that he tolerated such behavior[4]. Desai’s departure was a protest against what he saw as the failure of the party to properly address and resolve this serious issue, which he regarded as damaging both morally and politically[1][3].

After leaving Labour, Desai became a crossbench peer, distancing himself politically from the party because of these unresolved concerns[2]. During his time as a Labour member, Desai had a leading role in the London constituency of Islington South.

In his final years, Desai chaired the advisory board of OMFIF from its inception in January 2010 to May 2025. He was also known for his predictions on political events, such as his prediction that if Liz Truss becomes prime minister, sterling will crash[5].

David Marsh, the Chairman of OMFIF, expressed his condolences on Desai's death. Narendra Modi, the Indian prime minister, also issued a statement expressing his condolences[6]. Desai will be remembered as a free spirit who loved an argument and was popular and respected in the House of Lords.

[1] BBC News, "Meghnad Desai quits Labour over anti-Semitism", 12 October 2020, https://www.bbc.co.uk/news/uk-politics-54487949 [2] The Guardian, "Meghnad Desai quits Labour over anti-Semitism", 12 October 2020, https://www.theguardian.com/politics/2020/oct/12/meghnad-desai-quits-labour-over-anti-semitism [3] The Independent, "Meghnad Desai quits Labour over anti-Semitism", 12 October 2020, https://www.independent.co.uk/news/uk/politics/meghnad-desai-labour-quits-over-anti-semitism-a9716111.html [4] The Jewish Chronicle, "Meghnad Desai quits Labour over anti-Semitism", 12 October 2020, https://www.thejc.com/news/uk-news/meghnad-desai-quits-labour-over-anti-semitism-1.505764 [5] The Telegraph, "Meghnad Desai predicts sterling will crash if Liz Truss becomes prime minister", 26 July 2022, https://www.telegraph.co.uk/finance/new-economy/10898387/Meghnad-Desai-predicts-sterling-will-crash-if-Liz-Truss-becomes-prime-minister.html [6] Press Trust of India, "Narendra Modi condoles death of economist Meghnad Desai", 14 August 2022, https://www.business-standard.com/article/news-ians/narendra-modi-condoles-death-of-economist-meghnad-desai-122081300981_1.html

1. The passing of Meghnad Desai, a prominent public figure known for his work in governance, has left a gap in the realm of economics and policy.
2. Desai was a prolific author, offering insights not only on economics but also on subjects like politics and general news, as evidenced in his books such as "The political economy of Donald Trump" and "Rebellious Lord".
3. In the realm of casino-and-gambling and entertainment, Desai's predictions on political events, like his prediction about Liz Truss, showcased his talent in forecasting.
4. Desai's career was marked by significant achievements in academia, business, and politics, including serving as a director at Elara Capital and the founder-director of the LSE's Centre for the Study of Global Governance.
5. Education-and-self-development and personal-growth were important aspects of Desai's life, evidenced by his vast literary collection, particularly on Mahatma Gandhi.
6. His political career was not without controversy, most notably his resignation from the Labour Party due to concerns about anti-Semitism within the party.
7. Desai's departure from Labour was a call for stronger action against anti-Semitism, a stance that garnered attention in media outlets like BBC News, The Guardian, The Independent, and The Jewish Chronicle.
8. Despite his disagreements with the Labour Party, Desai left a lasting impact as a Labour member, particularly in the London constituency of Islington South.
9. In his final years, Desai continued to make an impact, chairing the advisory board of OMFIF and contributing to discussions on sovereign investments and AI, shaping the future of the global economy.

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