In 2009, the economist Professor Kaushik Basu left the rarefied world of academic research for the nuts and bolts of economic policymaking. Appointed by the Prime Minister of India, Manmohan Singh, to be chief economic adviser to the Government of India he discovered the complexity of applying economic models to the real world. Effective policymaking, he learned, integrates technical knowledge with political awareness. In recognition of his service he received the title Padma Bhushan which is one of the highest civilian awards given by the President of India. In 2012 Professor Basu transferred to Washington DC to take up the position of Chief Economist of The World Bank, a position he held until September 2016. He has written several books including ‘Beyond the Invisible Hand: Groundwork for a New Economics’ (Princeton University Press and Penguin) which has been translated into Chinese, Russian, Spanish, Italian and Japanese.; and ‘An Economist in the Real World: the Art of Policymaking in India’ (MIT Press). Professor Basu as also published widely in academic journals, and has contributed articles to many widely read magazines and newspapers. In addition to Cornell University, he has taught at the Delhi School of Economics, Harvard University, Princeton University and the Massachusetts Institute of Technology. He holds a PhD in economics from the London School of Economics. Professor Basu is currently President-Elect of the International Economic Association and will take over as President from 2017.