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33-500: The Indira Gandhi Prize , or the Indira Gandhi Peace Prize , also known as Indira Gandhi Prize for Peace, Disarmament and Development , is the prestigious award accorded annually by Indira Gandhi Memorial Trust to individuals or organisations in recognition of creative efforts toward promoting international peace, development and a new international economic order ; ensuring that scientific discoveries are used for

66-616: A Harry Johnson Prize every year for the best article to appear in the Canadian Journal of Economics in the preceding year. He retained a lifelong interest in Canadian politics and was heavily critical of nationalist and interventionist policies that prevailed at his time. In his policy-oriented writings, he clearly showed his beliefs in personal freedom and markets. Johnson published many works on international and monetary economics theory. He also wrote many works aimed at

99-453: A stroke in Geneva on 9 May 1977; he was survived by his wife. The enormous admiration and affection for Johnson was reflected in the numerous obituaries by members of the economics profession that appeared soon afterwards. "For the economics profession throughout the world, the third quarter of this century was an Age of Johnson" (Tobin 443). "He bestrode our discipline like a Colossus ", "He

132-712: A metric to measure the success of independence movements and completing the decolonization process. In 1974, the United Nations General Assembly adopted the "Declaration for the Establishment of a New International Economic Order" along with its accompanying program of action and formalized this sentiment among nation states. A few months later the UN General Assembly adopted the "Charter of Economic Rights and Duties of States". Since then, there have been many meetings to realize

165-578: A more equitable international system was motivated also by increasing inequality in the share of global national income between developed and underdeveloped countries, which more than doubled between 1938 and 1966. From its beginnings in 1964, the United Nations Conference on Trade and Development (UNCTAD), along with the associated Group of 77 and the Non-Aligned Movement , was the central forum for discussions of

198-466: A planet" (Scott 80). This travelling style began in the fifties when he was teaching refresher courses for economists in Karachi and Singapore . His travelling and ubiquitousness became legendary. Physically, he was a large man, overweight or at least stout, with piercing dark brown eyes. But he was far from sluggish, and gave an impression of intense and disciplined intellectual and physical energy. He

231-482: A pool of national and international nominees. New International Economic Order The idea of a new international economic order emerged from the experiences of decolonization after the Second World War. Newly decolonized countries gained political sovereignty but "felt that their de jure political colonization ended only to be replaced by a de facto economic colonization." This mission to achieve

264-636: A stroke at age 49 and died prematurely from a second stroke at age 53. In 1976 the Canadian government named him an officer of the Order of Canada and in 1977 he was named a distinguished fellow of the American Economic Association . The Canadian Economics Association awards an annual Harry G. Johnson Prize for the best paper published in the Canadian Journal of Economics . He was born on 26 May 1923 in Toronto, Ontario , Canada,

297-490: The "Right to Development" in 1986. From the 1980s onward, the Washington Consensus and economic globalization on terms often described as neoliberal became dominant. The economic reach of multinational corporations, rather than being circumscribed, would be expanded significantly. Trade in commodities would shift away from state-dominated cartels towards increasingly financialized markets. The formation of

330-700: The Canadian armed forces and, after training, was sent to England in 1945, eventually doing clerical work in Canada House ." This was then followed by further study at Jesus College, Cambridge , where he obtained a first-class BA degree in economics under the tutelage of the Marxist economist Maurice Dobb ; a return to the University of Toronto , where he earned his MA degree; and then finally doctoral research at Harvard University , where he completed

363-657: The Caribbean Community , reducing developed-country tariffs and other obstacles to free trade, expanding generalized trade preferences, and designing other agreements to reduce trade barriers . These proposals to restructure the international economic system also sought to reform the Bretton Woods system , which had benefited the leading states that had created it – especially the United States . This set of proposals proclaimed that facilitating

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396-581: The North–South Summit in Cancun in 1981, where, according to historian Michael Franczak, "Reagan promised the attending heads of state that private investment and free markets were the surest path to development, prosperity, and, yes, democracy." Within the context of the worldwide debt crisis in the 1980s, it was very difficult to realize the NIEO. Unrealized NIEO proposals contributed to the formulation of

429-602: The Oxford Dictionary of Biography , it was at this time that he "developed an interest in the history of thought and was much influenced by Harold Innis 's lectures and ideas on Canadian and generalized economic history." He graduated in 1943 and subsequently became, for one year, acting professor and sole member of the economics staff at St Francis Xavier University , in Antigonish, Nova Scotia . "In 1944", explains Corden, "Johnson volunteered for active service in

462-695: The University of Chicago from 1959 (and from 1969, the Charles F. Grey Distinguished Service Professor) until his death in 1977. He was also Professor of Economics at the London School of Economics from 1966 until 1974. And he briefly was professor at the Graduate Institute of International Studies in Geneva until his death. He was twice Editor of the Journal of Political Economy . He had

495-585: The World Trade Organization and the proliferation of free trade agreements would compel the reduction of barriers to trade, generally on strictly reciprocal terms. Parts of the NIEO were realized, such as the non-legal, non-binding Restrictive Business Practice Code adopted in 1980 and the Common Fund for Commodities , which came in force in 1989. In addition, in World Trade Organization , Matsushita et al. state, "The realization of

528-694: The London School of Economics. He also held a visiting professorship at Queen's University in Kingston, Ontario and he briefly was professor at the Graduate Institute of International Studies in Geneva until his death. As Johnson was universally known, was an inveterate conference-goer. In addition he visited innumerable universities, especially in Canada and in Asia . He "circled the globe like

561-513: The NIEO for using central planning and monopolistic power to extort transfers of income and wealth from the developed countries. In his view, commanding prices for raw materials above their natural level usually reduces consumption and thus causes unemployment among producers, and price regulation typically gives the extra income to those in control of who is allowed to produce, e.g., to governments or land-owners. Newly elected President Ronald Reagan took these calls for market-led foreign policy to

594-790: The NIEO visible in the policy arena. In the 21st century, the idea of an NIEO has been endorsed by the Group of Friends in Defense of the Charter of the United Nations . In addition, to mark the 50 year anniversary of the original NIEO proposals in 2024, Progressive International convened a global 2-year process to update the original NIEO. The renewed NIEO proposals were published in September 2024. Harry Gordon Johnson Harry Gordon Johnson , OC (26 May 1923 – 9 May 1977)

627-590: The NIEO. Key themes of the NIEO included both sovereign equality and the right of self-determination , especially when it comes to sovereignty over natural resources. Another key theme was the need for a new commodity order through international commodity agreements and a common fund for commodity price stabilization. Restructuring international trade was also central as a means to improve developing countries' terms of trade , such as by diversifying developing economies through industrialization, integrating developing countries economies into regional free trade blocs like

660-445: The NIEO. In 2018, the United Nations General Assembly adopted the resolution "Towards a New International Economic Order", which reaffirmed "the need to continue working towards a new international economic order based on the principles of equity, sovereign equality, interdependence, common interest, cooperation and solidarity among all States." The main principles of the original NIEO are: The main reforms required by

693-656: The New International Economic Order was an impetus for developing country support for the Tokyo Round of trade negotiations. Critics of the WTO continue to state that little of substance for developing countries came out of either the Tokyo or Uruguay Rounds . The adoption of the 1974 Declaration and the much more recent 2018 resolution "Towards a New International Economic Order" keeps the ideas of

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726-543: The course work requirements in three terms. It was while at Harvard that he became a follower of the ideas of Joseph Schumpeter . In 1948 he married Elizabeth Scott, daughter of Harold Victor Serson, civil engineer. She later became one of the editors of the collected writings of Keynes. They had one son and one daughter. He held permanent teaching positions throughout Europe and Canada, as well as visiting positions at universities worldwide. Notable were his time with Chicago from 1959 to 1977, also during 1966–74 he worked at

759-614: The elder son of two children of Henry Herbert Johnson, newspaperman and later secretary of the Liberal Party of Ontario , and his wife, Frances Lily Muat, lecturer in child psychology at the Institute of Child Study of the University of Toronto . Johnson was educated at the University of Toronto schools and then obtained scholarships to the University of Toronto, where he studied law and economics. According to W. Max Corden in

792-457: The energy and time to read them carefully and write back to the authors promptly. ... once ... when he was staying with us, my wife asked him what he had been doing in the early hours of the morning when we had been still asleep. 'I read two manuscripts, one indifferent and the other bad; what is worse, I could have written one good paper in that time.' " He was a strong drinker and his reputation at London School of Economics and Political Science

825-427: The general public and policymakers. According to Paul Samuelson , when Johnson died he had eighteen papers in proof: "That is dying with your boots on!" said Samuelson Johnson earned many honours. In 1977 he was named a distinguished fellow of the American Economic Association , and in 1976 the Canadian government named him an officer of the Order of Canada . Johnson wrote a large number of books and articles ,

858-500: The larger good of humanity, and enlarging the scope of freedom. The prize carries a cash award of 2.5 million Indian rupees and a citation. A written work, in order to be eligible for consideration, should have been published. The panel constituted by the Indira Gandhi Memorial Trust consists of prominent national and international personalities including previous recipients. The recipients are chosen from

891-481: The monetary approach to the balance of payments and wrote many high quality surveys of monetary economics that helped to clarify the issues in question. Despite being perhaps the most prolific economist of the modern era, Johnson's star has waned as is evidenced by the significant fall (discussed in Moggeridge's biography) in citations to his work in the past decade. The Canadian Economics Association presents

924-482: The original NIEO are: Renewed NIEO proposals - generated to mark the 50th anniversary of the original proposals - include additional principles such as the need to address a "rapidly changing climate". The United States government rejected the NIEO almost immediately. Neoconservatives and libertarians criticized the NIEO and became influential in US foreign policy circles. For example, economist Harry Johnson criticized

957-474: The rate of economic development and market share among developing countries will fight global issues such as hunger and despair more effectively than the current focus on philanthropy and development aid. This advocacy among nations of the Non-Aligned Movement can also be understood as an extension of the decolonization movement that was present in many developing countries during that time. In this perspective, political and economic equity were perceived as

990-478: Was a Canadian economist who studied topics such as international trade and international finance . Nobel laureate James Tobin said about him: "For the economics profession throughout the world, the third quarter of this century was an Age of Johnson. ... It was his impact on his own profession ... that justifies calling the era his Age." Appointed professor of economics at Manchester University in 1956, he left upon being appointed Professor of Economics at

1023-404: Was an institution" (ibid.). "Canada lost one of its greatest sons". He was "larger than life’ (the most common remark). "The one and only Harry" ( The Economist , 14 May 1977, 121). Johnson made many contributions to the development of Hecksher-Ohlin theory and until the 1970s according to Moggeridge, was the second most quoted trade theorist after Paul Samuelson . Johnson also helped to found

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1056-523: Was often loudly and informally dressed. His energy was kept under control by his continuous carving of wooden statuettes, of which he made thousands in many different artistic styles. He carved at seminars and in his room, throughout the most concentrated discussions of intricate economic problems. Economist Jagdish Bhagwati , writing about Johnson's productivity and accessibility, said, "Countless numbers of manuscripts would reach him, from aspiring students of international economics and somehow Harry found

1089-535: Was that he travelled weekly between London and Chicago , and he would enter each flight with a bottle of Southern Comfort and would leave it with a fully written paper! According to Moggeridge he was often deeply intoxicated whilst attending seminars and workshops. Despite his prolific writing, he was criticized for essentially rewriting the same articles over and over. George Stigler was asked about Johnson's 500 published papers versus his 100. Stigler replied, "Yes, but mine were all different." Harry Johnson died of

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