Raghuram Rajan, Professor of Finance at the University of Chicago Booth School of Business and the chief economic adviser in India's finance ministry, served as the International Monetary Fund’s youngest-ever chief economist and was Chairman of India’s Committee on Financial Sector Reforms. He is the author of Fault Lines: How Hidden Fractures Still Threaten the World Economy.
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Raghuram Rajan
Commentaries by Raghuram Rajan
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Why India Slowed
NEW DELHI – For a country as poor as India, growth should be what Americans call a “no-brainer.” It is largely a matter of providing public …
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Love the Bank, Hate the Banker
NEW DELHI – Public discourse is rarely nuanced. The public’s attention span is short, and subtleties tend to confuse. Better to take a clear…
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Will Programmers Rule?
NEW DELHI – Marc Andreessen made his first fortune writing the code that became Netscape Navigator, the Internet browser. He is now a ventur…
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Why Stimulus Has Failed
NEW DELHI – Two fundamental beliefs have driven economic policy around the world in recent years. The first is that the world suffers from a…
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Did the Bankers Do It?
NEW DELHI – Few areas of economic activity in the United States are more politicized than housing finance. Yet the intellectual left has gon…
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Is Finance Too Competitive?
NEW DELHI – Many economists are advocating for regulation that would make banking “boring” and uncompetitive once again. After a crisis, it …
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The Only Game in Town
TOKYO – What should central banks do when politicians seem incapable of acting? Thus far, they have been willing to step into the breach, fi…
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The Heart of the US Election
CHICAGO – A real debate is emerging in America’s presidential election campaign. It is superficially about health care and taxes. More funda…
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What Money Can Buy
CHICAGO – In an interesting recent book, What Money Can’t Buy: The Moral Limits of the Market, the Harvard philosopher Michael Sandel points…
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Is Inequality Inhibiting Growth?
CHICAGO – To understand how to achieve a sustained recovery from the Great Recession, we need to understand its causes. And identifying caus…
Will Programmers Rule?
Karthik M: Oh yes! Everything depends on luck. Thank you for that Mr. Raghuram. How much do we owe you for this?
What Money Can Buy
Karthik M: How about lucky? How would you percieve the legitimacy of money’s distribution then? I worry that, by the tone of this article, Sandel's worries aren't your worries.