Sudha Shenoy

Sudha R Shenoy (1943– 31 May 2008), was an Austrian economist and economic historian.[1] She worked as a lecturer in economics at the University of Newcastle in Australia from 1986 to 2004.[1] Shenoy was a noted scholar and served as an adjunct scholar at the Ludwig Von Mises Institute and as an Honorary Associate in economic history at the School of Policy.[2] She died in May 2008 after a long battle with cancer.[3]

Education

Shenoy completed her education at Mount Carmel School and St. Xavier's College, Ahmedabad. She later studied at the London School of Economics, the University of Virginia, and SOAS.[4] She established the Whig Society with a fellow student on Hayek's advice.[3] She was known to be a knowledgeable, vivacious, and enthusiastic proponent of classical liberal ideas.[5]

Career

Shenoy completed her PhD at the London School of Economics, where her father, noted economist Bellikoth Raghunath Shenoy, also studied under Nobel Laureate Friedrich Hayek.[6] She also held visiting posts at California State University, Ohio University, and George Mason University.[7] She also taught at the Cranfield School of Management in the United Kingdom and the University of Sydney, followed by a long stint at the University of Newcastle. She authored several books and articles, primarily related to economic development and India, and edited A Tiger by the Tail: The Keynesian Legacy of Inflation, a collection of Hayek's writings on Keynesian policies, with commentary and analysis. Her paper on 'Pricing for Refuse Removal' won 3rd place in the Evan Durbin Competition run by the Institute of Economic Affairs.[5]

As an economist, Shenoy was well-versed in common law, the history of international trade, and the life and works of Hayek.[3] She became a member of the Mont Pelerin Society before 30. In her own words, her book on Keynesianism came out at "a psychologically critical moment in British economic thinking, if you will." It was celebrated in the British financial press with a leading reporter, Samuel Brittan, publicly repenting his previous Keynesianism and crediting the book for his conversion.[8]

Works

Books

  • Underdevelopment and Economic Growth (1970)[9]
  • Central Planning in India: A Critical Review (1971)[10]
  • India: Progress or Poverty? A Review of the Outcome of Central Planning in India (1971)[11]
  • Towards a Theoretical Framework for British and International Economic History (2010)[12]

Other publications

  • Statism and Free Markets (1962)[13]
  • Selective "Injustice" (1965)[14]
  • The Coming Serfdom in India (1966)[15]
  • The Sources of Monopoly (1966)[16]
  • A Tiger by the Tail: The Keynesian Legacy of Inflation[17] by FA Hayek (edited by Shenoy, published with analysis and commentary in 1972, 1978, and 1979)
  • The Economic & Social History of Continental Europe & Britain, c. 1000-1914: An Introductory, Annotated Reading-List for Economists
  • Wage-Price Control: Myth and Reality (1978, as editor)[18]
  • Austrian Capital Theory and the Underdeveloped Areas: An Overview (1991)[19]
  • The Division of Labor is World-Wide (2004)[20]
  • Investment Chains through History or a Historian's Outline of Development: ‘Using Goods of Ever Higher Orders’ (2007)[21]

Lectures and recordings

  • The New Global Marketplace (Lecture, 2006)[22]
  • How I Stopped Worrying and Learned to Love the Trade Deficit (Lecture, 2007)[23]

Interviews

  • The Global Perspective: An Interview with Sudha Shenoy (2003)[24]

Works about Shenoy

  • Austrian economics and development: The case of Sudha Shenoy's analysis (2018)[25]
  • Breaking Out and Through (2022)[26]
  • Sudha R Shenoy, in Chapter 8 - World Economy, in Women's International Thought: Towards a New Canon (2022)[27]

References

  1. 1 2 "Sudha R. Shenoy - FEE". Foundation for Economic Education. Retrieved 2026-07-28.
  2. ↑ "A Tiger by the Tail | Mises Institute". mises.org. 2009-04-21. Retrieved 2026-07-28.
  3. 1 2 3 "Sudha R. Shenoy · Indian Liberals". indianliberals.in. Retrieved 2026-07-28.
  4. ↑ "Dr. Sudha R. Shenoy – ERC". Retrieved 2026-07-28.
  5. 1 2 Blundell, John (2008-09-19). "Sudha R. Shenoy 1943-2008, remembered fondly". Institute of Economic Affairs. Retrieved 2026-07-28.
  6. ↑ Owens, Patricia (2020-02-03). "Women Thinkers of the World Economy | Women and the History of International Thought". Retrieved 2026-07-28.
  7. ↑ "The Global Perspective | Interview with Sudha Shenoy". Mises Institute. 2003-12-08. Retrieved 2026-07-28.
  8. ↑ Cox, Patrick (1983-05-01). "Spotlight: Market Nirvana". Reason.com. Retrieved 2026-07-28.
  9. ↑ Shenoy, Sudha (1970). Under-development and economic growth. London, UK: Institute of Economic Affairs. ISBN 978-0582350885.
  10. ↑ Shenoy, Sudha (1973). Central Planning in India: A Critical Review. New Delhi: Wiley Eastern. ISBN 0-85226-810-6.
  11. ↑ Shenoy, Sudha (1971). India: progress or poverty?: a review of the outcome of central planning in India, 1951-69. London, UK: Institute of Economic Affairs. ISBN 978-0255360234.
  12. ↑ Shenoy, Sudha (2010). Towards a Theoretical Framework for British and International Economic History. Auburn, Alabama: Ludwig von Mises Institute. ISBN 9781933550633.
  13. ↑ Shenoy, Sudha. "Statism and the Free Market". The Freeman (14): 44–46 – via Foundation for Economic Education.
  14. ↑ Shenoy, Sudha (1969-03-24). "Selective "Injustice"". Dimensions: 2 – via Purdue University.
  15. ↑ Shenoy, Sudha (1966-12-01). "The Coming Serfdom in India". The Freeman (8): 35–39 – via Foundation for Economic Education.
  16. ↑ Shenoy, Sudha (1966). "The Sources of Monopoly" (PDF). New Individualist Review. 4: 875–860 – via Mises Institute. As quoted by Becchio (2018)
  17. ↑ Hayek, Friedrich A. von (1979). Shenoy, Sudha (ed.). A tiger by the tail: the Keynesian legacy of inflation. Cato paper. San Francisco, Calif: Cato Institute. ISBN 978-0-932790-06-4.
  18. ↑ Wage - Price Control: Myth & Reality (PDF). Sydney, Australia: Centre for Independent Studies. 1978. ISBN 095964850X.
  19. ↑ Shenoy, Sudha (1991). "Austrian Capital Theory and the Underdeveloped Areas: An Overview". In Ebeling, Richard M (ed.). Austrian Economics: Perspectives on the Past and Prospects for the Future. Hillsdale, Michigan: Hillsdale College Press. pp. 379–423. ISBN 9780916308834.
  20. ↑ Shenoy, Sudha (2004-03-23). "The Division of Labor is World-Wide | Mises Institute". Mises Institute. Retrieved 2026-07-28.
  21. ↑ Shenoy, Sudha. "Investment Chains through History or an Historian's Outline of Development: 'Using Goods of Ever Higher Orders'" (PDF). Indian Journal of Economics & Business, Special Issue: 185–215 – via Mises Institute.
  22. ↑ LibertyInOurTime (2010-08-19). The New Global Marketplace | Sudha Shenoy. Retrieved 2026-07-28 – via YouTube.Lecture presented at the Ludwig von Mises Institute event, "Imperialism: Enemy of Freedom," hosted at the Mises Institute, Auburn, Alabama; 27–28 October 2006
  23. ↑ "How I Stopped Worrying and Learned to Love the Trade Deficit | Sudha Shenoy · Indian Liberals". indianliberals.in. Retrieved 2026-07-28.
  24. ↑ "The Global Perspective: An Interview with Sudha Shenoy | Mises Institute". Mises Institute. 2014-07-30. Retrieved 2026-07-28.
  25. ↑ Becchio, Giandomenica (2018-12-01). "Austrian economics and development: The case of Sudha Shenoy's analysis". The Review of Austrian Economics. 31 (4): 439–455. doi:10.1007/s11138-017-0409-9. hdl:2318/1659587. ISSN 1573-7128.
  26. ↑ Shreyas Narla, “Breaking Out and Through: An Essay on India’s First Women in Liberal Economics,” Mercatus Center Essay, Mercatus Center at George Mason University, Arlington, VA, March 2022.
  27. ↑ Owens, Patricia; Rietzler, Katharina; Hutchings, Kimberly; Dunstan, Sarah C., eds. (2022). Women's International Thought: Towards a New Canon. Cambridge: Cambridge University Press. doi:10.1017/9781009004978. ISBN 978-1-316-51824-3.
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