Kaushik Basu (born 9 January 1952) is an Indian economist who was Chief Economist of the World Bank from 2012 to 2016. He is the C. Marks Professor of International Studies and Professor of Economics at Cornell University, and an academic advisory board member of the upcoming Plaksha University. He began a three-year term as President of the International Economic Association in June 2017. From 2009 to 2012, during the United Progressive Alliance’s second term, Basu served as the Chief Economic Adviser to the Government of India.
Kaushik Basu Wiki/Biography
|Born||9 January 1952 (age 69)|
Kolkata, West Bengal, India
|Spouse(s)||Alaka Malwade Basu|
|New Keynesian economics|
|Alma mater||University of Delhi (B.A.)|
London School of Economics, University of London(MSc, PhD)
|Influences||David Hume, Bertrand Russell, Amartya Sen, Kenneth Arrow|
|Awards||Padma Bhushan (2008)|
The National Mahalanobis Memorial Medal (1989)
UGC-Prabhavananda Award for Economics (1990)
Why in News?
He recently did an interview of Rahul Gandhi.
Kaushik Basu Early life
Kaushik Basu was born in Kolkata, India, where he attended St. Xavier’s Collegiate School. In an autobiographical essay, he noted that finishing school in 1969 he was caught in a dilemma. His father wanted him to study physics. But those were revolutionary times and he wanted to study nothing. They settled on economics as a half-way compromise between physics and nothing. In 1969 he moved to Delhi to do his undergraduate studies in Economics, from St. Stephen’s College, Delhi.
Kaushik Basu Education
He did his undergraduate studies in Economics, from St. Stephen’s College, Delhi. He then attended London School of Economics and was awarded MSc in Economics from University of London in 1974. After earning his master’s degree, Basu was supposed to move to England to study law and take over his father’s legal practice, but he had fallen in love with the concept of logic and deductive reasoning and became fascinated by Amartya Sen‘s work. He remained at the London School of Economics, University of London for his PhD, from 1974 to 1976. He completed his PhD at University of London under the tutelage of Amartya Sen. He has received honorary doctorates from Lucknow University, Lucknow, in 2011, Assam University, Silchar, in 2012, Fordham University, New York, in 2013, Indian Institute of Technology Bombay, in 2013, University of Bath, U.K., in 2016, on the occasion of the University’s fiftieth anniversary, and the Jadavpur University Kolkata in 2018.
Kaushik Basu Personal life
Kaushik Basu is married to Alaka Malwade Basu with two children, Karna and Diksha. Alaka is a professor at Cornell’s Department of Development Sociology and has been a visiting professor at the Centre for the Study of Regional Development at Jawaharlal Nehru University in New Delhi.
Kaushik Basu Career
Over the years Basu has held visiting professorships at the Massachusetts Institute of Technology, Harvard University, the Institute for Advanced Study in Princeton, New Jersey, the Université catholique de Louvain’s Center for Operations Research and Econometrics (CORE) in Louvain-la-Neuve, Belgium, and the London School of Economics, where he was a distinguished visitor in 1993. Additionally, he was a visiting scientist at the Indian Statistical Institute, a public university in Kolkata, India.
Before his appointment as the World Bank’s Chief Economist, Basu was the Chief Economic Adviser to India’s Ministry of Finance while on leave from Cornell University where he is Professor of Economics and the C. Marks Professor of International Studies.
Kaushik Basu is a columnist for BBC News Online, the Hindustan Times, Business Standard and is the author of several books on economics and a play, Crossings at Benaras Junction, which was published in The Little Magazine (vol. 6, 2005).
Awards and honours
- Padma Bhushan, Government of India, 2008
- Served as President of the Human Development and Capabilities Association.
- Doctorate of Humane Letters, Fordham University, 2013.
- D.Litt (Honoris Causa), IIT (Bombay), India 2013.
- Gold Medal for Outstanding Contribution to Public Discourse, College Historical Society, Trinity College, Dublin, November 2014.
- Doctor of Laws (Honoris Causa), University of Bath, Bath, U.K. 2016.
- Dean’s Medal for Visionary Leadership 2018. Brandeis University International Business School, 2018.
- D.Litt (Honoris Causa), Jadavpur University, Kolkata, India 2018.
- Laurea Honoris Causa, Universita degli studi di Firenze, Florence, Italy 2018.
Some of his research papers
- Isolated and Proximate Illiteracy, with James E. Foster and S. Subramaniam, Economic and Political Weekly, 2000
- India and the Global Economy, Economic and Political Weekly, 2001
- Is Literacy Shared Within Households? Theory and Evidence from Bangladesh, with Ambar Narayan and Martin Ravillion, 2001
- Strategy for Economic Reform in West Bengal, with Abhijit Banerjee, Pranab Bardhan, Mrinal Dutta Chaudhuri, Maitreesh Ghatak and Ashok Sanjar Guha, Economic and Political Weekly, 2002
- The Collective Model of the Household and an Unexpected Implication for Child Labor Hypothesis and an Empirical Test, with Ranjan Ray, 2002