Bangalore, Jan 24 Renowned economist Prof P R Brahmananda, who endeared himself to the development of economics in India and tried to work out new paradigms, died at his home here Thursday following a cardiac arrest, family sources said. Brahmananda, 77, collapsed after writing an article for a business newspaper and died before being rushed to a private hospital, the sources said. He was a bachelor.
Beginning as a research assistant, he developed the much-hailed wage-goods model pleading for priority for agriculture and related wage goods, developing self-employment oriented and small industries, controlling population growth and for price stability.
With this work, Brahmananda left a major imprint and the model is well known in the world of development literature. His book "Planning for a Wage Goods Economy" was the first Indian book to be reviewed in most international journals and by top economists of that time.
Brahmananda played a pivotal role in building the Indian Economic Association and is considered its main pillar.
For nearly five decades, he was editing the Indian Economic Journal and was continuously elected as its Managing Editor.
Brahmananda, who treated economics as an eclectic science, was appointed as the International Economic Association President at its Congress in Lisbon last year. He has several works to his credit, including "The Monetary History of India" which the RBI asked him to write. The first volume dealing with 19 century was released in 2001 and he was working on the 20th century monetary history. Bureau Report