Professor Amiya Kumar Bagchi, a prominent economic historian and macroeconomist, passed away on November 28, 2024. Renowned for his revolutionary contributions to economic history and his commitment to Left politics, Bagchi’s scholarship bridged economic theory and historical data, influencing both economists and historians alike. His work continues to shed light on India’s colonial economic history, development, and underdevelopment, providing profound insights into the impact of imperialism.
Early Education and Career
- Initially admitted to a college, Bagchi left for speaking out against injustice and joined Presidency College, Kolkata, where he completed his Master’s in Economics.
- He pursued his doctoral studies at Cambridge University, funded by a West Bengal government scholarship.
- After completing his Ph.D., he joined the Faculty of Economics and Politics at Cambridge, with a Fellowship at Jesus College.
Shift from Game Theory to Economic History
- Initially a mathematical economist and game theorist, Bagchi turned to economic history for his doctoral dissertation, a decision that marked his future path.
- His interdisciplinary approach combined macroeconomics with historical data to reveal new patterns, making him a pioneer in the field.
Notable Works
- Private Investment in India (1900-1939): A groundbreaking book that compared to works of anti-colonial historians like Naoroji and Dutt, this work explored the dynamics of investment during colonial India.
- Deindustrialization in Colonial India: Provided decisive evidence in a long-standing debate on the impact of colonialism on India’s industrial decline.
- Dialectics of Development and Underdevelopment (1972): An influential piece outlining the historical relationship between development and underdevelopment in the global economy.
- Perilous Passage: His final book focusing on the global ascendency of capitalism and the demographic collapse in the Global South caused by imperialism.
Academic and Institutional Roles
- Bagchi returned to Kolkata to teach at Presidency College and later became the Director of the Centre for the Study of Social Sciences, Calcutta.
- He was a strong advocate for Left politics and served as Vice-Chairman of the West Bengal State Planning Board.
- Established and directed the Institute of Development Studies, Kolkata, where he continued to influence economic thought.
Institution-builder and Mentor
- A beloved teacher and mentor, Bagchi guided numerous students, many of whom went on to become prominent scholars in their own right.
- He played a pivotal role in the academic landscape, combining economics with historical analysis to challenge colonial narratives.
Cultural and Intellectual Contributions
- Known for his connection to Kolkata’s cultural and intellectual life, Bagchi remained rooted in the city throughout his career, despite numerous prestigious offers.
- He contributed regularly to Bengali literary magazines and enjoyed engaging with Kolkata’s artistic community, particularly through Rabindra Sangeet and Bengali literature.
Legacy
- Bagchi’s work illuminated the effects of imperialism and contributed to the larger narrative of underdevelopment in India.
- He was elected General President of the Indian History Congress and is remembered as a key figure in both economics and history.
| Summary/Static | Details |
| Why in the news? | Professor Amiya Kumar Bagchi, a prominent economic historian and macroeconomist, passed away on November 28, 2024. |
| Field of Expertise | Economic History, Macroeconomics, Development Economics |
| Notable Works | 1. Private Investment in India 1900-1939 2. Deindustrialization in Colonial India 3. Dialectics of Development and Underdevelopment (1972) 4. Perilous Passage: Mankind and the Global Ascendency of Capital |
| Career Highlights | – Taught at Presidency College, Kolkata – Director, Centre for the Study of Social Sciences, Calcutta – Vice-Chairman, West Bengal State Planning Board – Founder, Institute of Development Studies, Kolkata |
| Academic Approach | Bridged economics and history, using macroeconomic theory with historical data |
| Legacy | His work reshaped economic and historical scholarship on colonial India, underdevelopment, and the impact of imperialism. |