Raghuram Rajan

Strong government doesn't mean simply military power or an efficient intelligence apparatus. Instead, it should mean effective, fair administration - in other words, 'good governance.'Raghuram Rajan

0 likes view quote Power, Good, Strong

One of the difficulties of a job in the, quote, 'real world' is you don't really get time to shut yourself off in a room and think.Raghuram Rajan

0 likes view quote Time, Job, Yourself

Taking my bike out and riding the bike path along Lake Shore Drive, that's one of the great experiences in my life. And I hope to do it as long as I can.Raghuram Rajan

0 likes view quote Life, Hope, Great

Perhaps the hardest challenge has been to persuade the public, impatient for rapid growth, of the need to ensure stability first. Growth, it is argued, is always more important, regardless of the looming economic risks.Raghuram Rajan

0 likes view quote Growth, Challenge, Risks

Politicians know that structural reforms - to increase competition, foster innovation, and drive institutional change - are the way to tackle structural impediments to growth. But they know that while the pain from reform is immediate, gains are typically delayed and their beneficiaries uncertain.Raghuram Rajan

0 likes view quote Change, Innovation, Growth

In emerging markets, slow growth in the advanced economies has shut down a traditional development path: export-led growth. As a result, emerging markets have had to rely once again on domestic demand. This is always a difficult task, given the temptation to over-stimulate.Raghuram Rajan

0 likes view quote Growth, Path, Development

To ensure stable and sustainable economic growth, world leaders must re-examine the international rules of the monetary game, with advanced and emerging economies alike adopting more mutually beneficial monetary policies.Raghuram Rajan

0 likes view quote Growth, World, Rules

Endorsing unconventional monetary policies unquestioningly is tantamount to saying that it is acceptable to distort asset prices if there are other domestic constraints on growth.Raghuram Rajan

0 likes view quote Growth, Saying, Asset

In a world with weak aggregate demand, countries are engaging in a futile competition for a greater share of it. In the process, they are creating financial-sector and cross-border risks that will become increasingly apparent as countries exit their unconventional policies.Raghuram Rajan

0 likes view quote Competition, World, Risks

The first step to prescribing the right medicine is to recognize the cause of the illness. And, when it comes to what is ailing the global economy, extreme monetary easing has been more cause than cure. The sooner we recognize that, the stronger and more sustainable the global economic recovery will be.Raghuram Rajan

0 likes view quote Step, First Step, Medicine

As a country that does not belong to any power bloc, India cannot afford to put itself in the position of needing multilateral support - a trap into which even developed countries, like Portugal and Spain, have fallen.Raghuram Rajan

0 likes view quote Power, Support, Country

The few emerging economies that have avoided booms and busts have done so by adhering to sound policy frameworks.Raghuram Rajan

0 likes view quote Done, Sound, Policy

Indian cricket fans are manic-depressive in their treatment of their favorite teams. They elevate players to god-like status when their team performs well, ignoring obvious weaknesses; but when it loses, as any team must, the fall is equally steep, and every weakness is dissected.Raghuram Rajan

0 likes view quote Team, Cricket, Weakness

Customers often value a good more when its price goes up. One reason may be its signaling value. An expensive handcrafted mechanical watch may tell time no more accurately than a cheap quartz model; but, because few people can afford one, buying it signals that the owner is rich.Raghuram Rajan

0 likes view quote Time, Good, Value

If developed countries' citizens want to feel slightly better about their economies' slow growth and high unemployment, they should contemplate how much worse matters could be without the institutions that they have.Raghuram Rajan

0 likes view quote Growth, Better, Want

The more that everyone has access to the same educational opportunities, the more society will tend to accept some receiving disproportionate rewards. After all, they themselves have a chance to be winners.Raghuram Rajan

0 likes view quote Society, Opportunities

The American political scientist Francis Fukuyama has argued that liberal democracies, with their political freedom and economic success, have three important pillars: a strong government, the rule of law, and democratic accountability. I would add a fourth: free markets.Raghuram Rajan

0 likes view quote Success, Freedom, Strong

Democratic accountability means that governments must be popularly accepted, with citizens empowered to replace corrupt or incompetent rulers.Raghuram Rajan

0 likes view quote Accountability, Corrupt

The difficulty in a number of Western democracies is that the playing field is being tilted. For many in the middle class, prosperity seems unattainable because a good education - today's passport to riches - is unaffordable.Raghuram Rajan

0 likes view quote Education, Today, Good

We should make sure that unscrupulous schools do not prey on uninformed students, leaving them with high debt and useless degrees.Raghuram Rajan

0 likes view quote Leaving, Debt, Students

I am an academic, and I have always made it clear that my ultimate home is in the realm of ideas.Raghuram Rajan

0 likes view quote Home, I Am, Ideas

Indian-ness, love for your country, is complicated. For every person, there is a different way that you show respect for your country... my mother-in-law will say karmayogi is the way to go - do your work.Raghuram Rajan

0 likes view quote Love, Work, Respect

Too many years away from academia renders you pretty incompetent at research and teaching. So I had to go back.Raghuram Rajan

0 likes view quote Research, Back, You

By killing transparency and competition, crony capitalism is harmful to free enterprise, opportunity, and economic growth. And by substituting special interests for the public interest, it is harmful to democratic expression.Raghuram Rajan

0 likes view quote Growth, Opportunity, Free

How do we get more politicians to move from 'fixing' the system to reforming the system? The obvious answer is to either improve the quality of public services or reduce the public's dependence on them. Both approaches are necessary.Raghuram Rajan

0 likes view quote Quality, Improve, Obvious

Uncertainty of any sort results in volatility, and Brexit will be no exception.Raghuram Rajan

0 likes view quote Uncertainty, Results, Will

Monetary policy is like juggling six balls... it is not 'interest rate up, interest rate down.' There is the exchange rate, there are long term yields, there are short term yields, there is credit growth.Raghuram Rajan

0 likes view quote Growth, Short, Credit

The problem with forbearance is that it always looks like a good thing to do until it stops working.Raghuram Rajan

0 likes view quote Good, Problem, Working

I have said repeatedly that the way to sustainable growth is to bring down inflation to much more reasonable levels.Raghuram Rajan

0 likes view quote Growth, Down, Said

If economists were to wait for careful studies before offering opinions about policy, we would never have anything timely to say.Raghuram Rajan

0 likes view quote Opinions, Never, Wait
52 Raghuram Rajan quotes

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