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Kaushik Basu- Professor of International Studies and Economics at Cornell University


NRI Kaushik Basu has been nominated for Padma Bhushan, 2008

New Delhi, Jan 26, 2008
Surinder Malhotra/ Gary Singh, LA

Kaushik Basu, C. Marks Professor of International Studies and Professor of Economics and Director, Program on Comparative Economic Development at Cornell University has been awarded Padma Bhushan, 2008

Kaushik Basu was born in Calcutta and received his early education there, at St. Xavier's School. In 1969 he moved to Delhi to do his undergraduate studies in Economics from St. Stephen's College and then he went on to the London School of Economics, from where he received his M.Sc. (Econ) in 1974 and PhD in 1976. He did his Ph.D. under the supervision of Amartya Sen, Nobel laureate in the area of choice theory and welfare economics.

Over the years Kaushik Basu has held visiting positions at the Institute for Advanced Study (Princeton), CORE (Louvain-la-Neuve) and the London School of Economics (where he was Distinguished Visitor in 1993); he has been Visiting Professor at MIT, Harvard and Princeton; and Visiting Scientist at the Indian Statistical Institute. A Fellow of the Econometric Society and recipient of the Mahalanobis Memorial Medal, Kaushik Basu has published scientific papers in development economics, game theory, industrial organization and political economy, and crafted the traveler's dilemma[1] He is a columnist for BBC News Online, and for the Times of India, 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). In 1992 he founded the Centre for Development Economics (CDE) at the Delhi School of Economics, Delhi, and was the Centre's first Executive Director till 1996.

He is the editor of the Oxford Companion to Economics in India, published by Oxford University Press (February, 2007), which is a compendium on the Indian economy, with contributors that include P. Chidambaram (Finance Minister of India), Amartya Sen, and leading industrialists Ratan Tata, and N.R. Narayana Murthy. Kaushik Basu is Editor of Social Choice and Welfare, Associate Editor of Japanese Economic Review and is on the Board of Editors of the World Bank Economic Review.

"Child Labor: Cause, Consequence and Cure with Remarks on International Labor Standards," Journal of Economic Literature, September 1999; "Interlinkage, Limited Liability, and Strategic Interaction," (with C. Bell and P. Bose), Journal of Economic Behavior and Organization, forthcoming, June 1998; "The Economics of Child Labor," (with Pham H. Van), American Economic Review, June 1998; Analytical Development Economics: The Less Developed Economy Revisited, M.I.T. Press, 1998; "On Misunderstanding Government: An Analysis of the Art of Policy Advice," Economics and Politics, 1997; "Group Rationality, Utilitarianism and Escher's Waterfall," Games and Economic Behavior, 1994; Lectures in Industrial Organization Theory, Basil Blackwell, 1993; "Notes on Bribery and the Control of Corruption," (with S. Bhattacharya and A. Mishra), Journal of Public Economics, 1992; "Fragmented Duopoly: Theory and Applications to Backward Agriculture," (with C. Bell), Journal of Development Economics, 1991; The Less Developed Economy: A Critique of Contemporary Theory, second reprint Oxford University, 1990; "On the Nonexistence of a Rationality Definition for Extensive Games," International Journal of Game Theory, 1990; "Technological Stagnation, Tenurial Laws and Adverse Selection," American Economic Review, 1989; "A Decomposition of the Normalization Axiom," Econometrica, 1985.

Political economy; knowledge and rationality; labor markets in developing economies.




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Basu is a cautious advocate of globalization, a term which he concedes is a dirty word in certain parts of the world because it is "wrongly associated with global corporate control."