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Raghuram G. Rajan

Raghuram G. Rajan

Writing for PS since 2003
90 commentaries
1 videos & podcasts

Raghuram G. Rajan, a former governor of the Reserve Bank of India and chief economist of the International Monetary Fund, is Professor of Finance at the University of Chicago Booth School of Business and the co-author (with Rohit Lamba) of Breaking the Mold: India’s Untraveled Path to Prosperity (Princeton University Press, May 2024).

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  1. Raghuram G. Rajan and Rohit Lamba on Indian job creation, industrial policy, democracy, and more
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    Raghuram G. Rajan and Rohit Lamba on Indian job creation, industrial policy, democracy, and more

    May 28, 2024 Raghuram G. Rajan & Rohit Lamba argue that India must place the highest priority on creating and owning intellectual property, advocate an alternative to interventionist industrial policies like subsidies, call for the decentralization of Indian governance at every level, and more.

  2. The Indian Election and the Country’s Economic Future
    op_rajan4_MANJUNATH KIRANAFP via Getty Images_Indiastartup Manjunath Kiran/AFP via Getty Images

    The Indian Election and the Country’s Economic Future

    May 24, 2024 Raghuram G. Rajan worries that the country will squander its massive potential by trying to emulate China's growth strategy.

  3. The Danger of Forgetting the 2023 Banking Crisis
    rajan89_Justin SullivanGetty Images_svb Justin Sullivan/Getty Images

    The Danger of Forgetting the 2023 Banking Crisis

    Feb 8, 2024 Raghuram G. Rajan & Viral V. Acharya worry that smaller banks’ troubles remain unresolved, and that the episode perpetuated moral hazard.

  4. Raghuram G. Rajan on inflation, financial risks, interest rates, and more
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    Raghuram G. Rajan on inflation, financial risks, interest rates, and more

    Jan 9, 2024 Raghuram G. Rajan says when the US Federal Reserve might start cutting rates, considers how to mitigate monetary-policy spillovers, proposes measures to boost financial stability, and more.

  5. The World Needs a Humble Approach to Central Banking
    op_frenkel1_MANDEL NGANAFP via Getty Images_fed MANDEL NGAN/AFP via Getty Images

    The World Needs a Humble Approach to Central Banking

    Dec 8, 2023 Jacob Frenkel, et al. explain why monetary policymakers must accept a deliberately narrow mandate.

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  1. obstfeld4_Jabin BotsfordThe Washington Post via Getty Images_trumplighthizer Jabin Botsford/The Washington Post via Getty Images

    The Dangers of a US Capital Inflow Tax

    Maurice Obstfeld worries that a little-known, highly costly method of deficit reduction is gaining political traction.
  2. beaufils1_ Alain DENANTESGamma-Rapho via Getty Images_solar panels Alain DENANTES/Gamma-Rapho via Getty Images

    Europe’s Green Transition Requires More Skilled Workers

    Julie Beaufils urges policymakers to boost the attractiveness of technical vocations by expanding access to apprenticeships.
  3. volz8_iStock  Getty Images Plus_global finance iStock / Getty Images Plus
    Free to read

    A Monetary and Economic Order Fit for the Twenty-First Century

    Ulrich Volz, et al. identify eight priorities to build a more resilient, inclusive, and sustainable global financial architecture.
  4. ghazouani1_YANICK FOLLYAFP via Getty Images_africachildren Yanick Folly/AFP via Getty Images

    Putting Africa on the Path to Prosperity

    Mohamed Ould Ghazouani & Ajay Banga urge the G7 to focus on the continent’s future, and on five priorities in particular, at this week’s summit.
  5. op_benami1_LOUAI BESHARAAFP via Getty Images_syriaconflict Louai Beshara/AFP via Getty Images

    Anatomy of a Massacre

    Shlomo Ben-Ami

    The 1860 massacre of Christians in Damascus holds useful lessons about what it takes to arrest – and recover from – inter-communal violence. But there is a difference between a pogrom and a genocide, and conflating the two can do more harm than good.

    considers what the 1860 massacre of Christians in Damascus can and cannot teach us about preventing genocide.
  6. GettyImages-2156649816 Photo by Nikolas Kokovlis/NurPhoto via Getty Images

    AI: Hope or Hype?

    Whether generative artificial intelligence will do more harm or good to our families, economies, and societies remains an open question. In devising strategies for harnessing the technology, optimism is undoubtedly warranted, but it should not come at the expense of realism.

  7. ehrenreich1_Francis DeanCorbis via Getty Images_denmark eu Francis Dean/Corbis via Getty Images

    How Denmark Keeps the Far Right at Bay

    Michael Ehrenreich explains how mainstream parties have neutralized the threat of right-wing populists.
  8. slobodian1_ Drew AngererGetty Images_peterthieltrump Drew Angerer/Getty Images

    How Techno-Libertarians Fell in Love with Big Government

    Quinn Slobodian argues Silicon Valley investors are against the state only insofar as it is not enriching them personally.
  9. gros187_CostfotoNurPhoto via Getty Images_china semiconductor Costfoto/NurPhoto via Getty Images

    How Chinese Savings Can Support the Global Green Transition

    Daniel Gros urges the EU to welcome cheap low-carbon goods, such as electric vehicles, from China.

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