IEA author obituary in The Times
Lal was author of many works, among them the IEA’s text, The Poverty of ‘Development Economics,’ in which he provided a robust critique of the statist model of development which denigrates both trade and open markets.
The IEA also co-published Deepak’s 2012 text, Lost Causes. In a post published to time with the release, IEA Senior Academic Fellow wrote: “It was interesting to see, in the wake of the 2012 budget, various think tanks and commentators claim that they had influenced this or that policy. Deepak Lal has no such pretensions.”
The Times writes: “[He was] unafraid of challenging conventional wisdoms as he sought solutions to world poverty.
“As a result of his experiences working for the Indian government in the Seventies, and his study of many other developing countries for the World Bank in the Eighties, he lost faith in economic central planning and became an ardent midlife convert to classical liberal economics.
“He came to believe that it was limited government, individual freedom and open markets that had led to the enrichment of the West, and that those principles should be applied to developing countries. He viewed conventional top-down foreign aid as counterproductive because it bred corruption.
“He produced a monthly column for India’s Business Standard newspaper and was attached to various think tanks, including the libertarian Cato Institute in Washington DC and the free-market Institute of Economic Affairs in London.”
Read the obituary in full here.