Original Source: indianexpress.com
Professor Amiya Kumar Bagchi, a towering figure in Indian scholarship, passed away at 88 on November 28, leaving a legacy that resonates deeply in today’s academic landscape. Renowned for his fearless advocacy against prevailing ideologies, his voice will be deeply missed, especially in an era when independent thought faces heavy repression.
Emerging in the late 1960s, as a doctoral student at Cambridge, Bagchi shifted from game theory to political economy, rekindling the intellectual fire of early Indian nationalists. His trajectory exemplified not just a personal evolution but also a passionate commitment to understand economic history’s role in shaping theoretical perspectives.
In his seminal 1972 work, “Private Investment in India, 1900-1939,” Bagchi challenged long-held economic myths. He revealed how British imperialism suppressed investment in colonial India, debunking notions of capital inadequacy and entrepreneurial limitations, ensuring that his insights continue to be pivotal in economic studies.
Bagchi’s scholarship extended across nations, addressing global capitalist phenomena and their impacts on underdevelopment. His 1982 publication, “The Political Economy of Underdevelopment,” provided a poignant analysis of colonialism’s long-lasting effects on diverse regions, including Latin America and India, unveiled through rigorous comparative studies.
His final major work, “Perilous Passage: Mankind and the Global Ascendancy of Capital,” published in 2005, deconstructed Eurocentric narratives surrounding capitalism’s rise. Through meticulous research, Bagchi illustrated how exploitation fueled Western prosperity, linking historical injustices to contemporary global inequality, challenging readers to rethink conventional wisdom.
Amiya Kumar Bagchi was an influential economist and historian whose work focused on political economy, economic history, and colonialism’s impact on development. His writings reflect a rich intellectual tradition spanning from early Indian nationalist thought to contemporary critiques of capitalism. Bagchi’s research critically examined the dynamics of investment in India during and after the colonial era, contributing significantly to our understanding of globalization’s oppressive structures.
Amiya Kumar Bagchi’s contributions as a scholar and spokesperson for marginalized voices are invaluable. His insights on economic history revealed the darker truths behind colonial exploitation, reshaping academic discourse around development and capitalism. As we reflect on his legacy, it’s clear that his courage to challenge dominant narratives will inspire future generations of thinkers.
