The top 10 most inspiring quotes by Raghuram Rajan
- Competition is like a treadmill. If you stand still, you get swept off. But when you run, you can never really get ahead of the treadmill and cover new terrain – so you never run faster than the speed that is set.
- 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.
- If anybody was to look towards a big source of demand in future, it would be hard for them to miss India.
- Uncertainty of any sort results in volatility, and Brexit will be no exception.
- 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.
- The problem with forbearance is that it always looks like a good thing to do until it stops working.
- I am an academic, and I have always made it clear that my ultimate home is in the realm of ideas.
- Ultimately, in the long run we need to immunise our system from being overly responsive to fluctuations in the exchange rate; that is, people should, by and large, be reasonably hedged, or they should borrow more in domestic currency rather than foreign currency.
- 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.
- 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 is an accomplished Indian economist and academic, born on February 3, 1963. He gained international recognition for his contributions to the fields of finance and monetary policy. Rajan served as the 23rd Governor of the Reserve Bank of India from 2013 to 2016, where he played a pivotal role in steering the country through economic challenges.
Prior to his central banking role, Rajan served as the Chief Economist and Director of Research at the International Monetary Fund (IMF). He is renowned for predicting the 2008 global financial crisis in a paper presented at the Jackson Hole Economic Symposium in 2005. Rajan’s academic career includes teaching positions at prestigious institutions such as the University of Chicago’s Booth School of Business, where he also served as the Chief Economist at the International Monetary Fund.
Apart from his academic and policy work, Rajan has authored several influential books, including “Fault Lines: How Hidden Fractures Still Threaten the World Economy.” Known for his insightful economic analyses, Rajan continues to be an influential figure in global economic discussions, contributing his expertise to various international forums and organizations.
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