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Raghuram G. Rajan

Raghuram G. Rajan

Writing for PS since 2003
94 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, 2024).

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  1. Economic Development in a Protectionist World
    rajan96_Pallava BaglaCorbis via Getty Images_indiaengineer Pallava Bagla/Corbis via Getty Images

    Economic Development in a Protectionist World

    Jan 3, 2025 Raghuram G. Rajan thinks poorer countries should be exploring new growth models, regardless of whether a new trade war erupts.

  2. Reform or Irrelevance for the IMF?
    rogoff216_ SAUL LOEBAFP via Getty Images_imf Saul Loeb/AFP via Getty Images

    Reform or Irrelevance for the IMF?

    Oct 24, 2024 Raghuram G. Rajan explains how the world’s financial backstop must change if it is to remain effective.

  3. Industrial Policy’s Deceptive New Clothes
    rajan94_Arvind YadavHindustan Times via Getty Images_indiasemiconductor Arvind Yadav/Hindustan Times via Getty Images

    Industrial Policy’s Deceptive New Clothes

    Sep 9, 2024 Raghuram G. Rajan sees little reason to support the case for renewed government interventions in the private sector.

  4. Bracing for a More Inflationary World
    rajan93_cienpiesGetty Images_inflation cienpies/Getty Images

    Bracing for a More Inflationary World

    Jul 11, 2024 Raghuram G. Rajan thinks central banks will remain under pressure to maintain tighter policies over the medium term.

  5. 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.

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  1. laidi34_Maja HitijGettyImages_scholz_frederiksen Maja Hitij/Getty Images

    Europe Can and Must Resist Trump

    Zaki Laïdi explains how the European Union should respond to American imperial nationalism.
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    Bending the Arc of AI Development Toward Shared Progress

    Anne Bouverot outlines the French government's objectives for the AI Action Summit in Paris.
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    Developing Countries Need a New Approach to Long-Term Financing

    Hannah Wanjie Ryder & Kate Hampton propose reforms that would facilitate low-interest lending to fund critical climate and development goals.
  4. delong267_Chip SomodevillaGetty Images_whitehousepress Chip Somodevilla/Getty Images

    Trump’s Smoke and Mirrors

    J. Bradford DeLong upbraids US journalists for refusing to distinguish bluster from genuine policy initiatives.
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    Why Does DeepSeek Matter?

    Chinese tech startup DeepSeek’s release of a high-performance, low-cost artificial-intelligence platform has roiled financial markets and raised fundamental questions about the business models of American AI giants. Will the technology turn out to be a boon for competition in a critical industry, or should it be viewed as a geopolitical shot across the West’s bow?

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    Resisting Digital Feudalism

    Mariana Mazzucato calls for urgent action to shape the development of AI before it becomes another means of rent extraction.
  7. op_shafik2_ANDREW CABALLERO-REYNOLDSAFP via Getty Images_trumpvance Andrew Caballero-Reynolds/AFP via Getty Images

    World Order in a Time of Monsters

    Minouche Shafik

    A stable and cooperative global order cannot be built without first repairing broken national social contracts. While unequal and anxious countries become fertile ground for nationalism and selfishness, prosperous economies are more likely to foster generosity and support for international cooperation.

    highlights the critical importance of reinvigorating social contracts at the national level.
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    How Not to Respond to Trump’s Tariffs

    Dani Rodrik advises America’s trade partners not to embrace retaliation, because that would harm mainly themselves.
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    Europe Found Its Values and Lost Its Way

    Jean-Pierre Landau warns that the EU’s focus on high-level principles is undermining its economic dynamism and global influence.

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