For someone who studied under the tutelage of Nobel Laureate Amartya Sen, Kaushik Basu has definitely done is Guru proud. The World Bank, in September, named Kaushik Basu as its chief economist.
The former chief economic adviser to the government of India holds a Ph.D. from the London School of Economics, and is on leave from his position as a professor of economics and international studies at Cornell University in New York.
Basu, who describes himself as left-leaning, believes that good moral qualities are essential for growth and development within the economy. Quite aptly, he is also the president of the Human Development and Capabilities Association founded by Amartya Sen which promotes research from many disciplines on key problems including poverty, justice, well-being, and economics.
The 60-year-old Basu is also the motivation behind ‘Arthapedia’, an online portal that provide explanations to the concepts used in Indian public policy to assist its understanding among citizens.
The Kolkata-born Basu will serve under new World Bank President Jim Yong Kim, a Korean-American and who took the helm of the World Bank just months before Basu.
"Kaushik brings first-hand experience from a developing country and will be a terrific asset to the institution," Kim said in his statement.