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Raghuram G. Rajan

Raghuram G. Rajan

Writing for PS since 2003
92 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. 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.

  2. 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.

  3. Raghuram G. Rajan and Rohit Lamba on Indian job creation, industrial policy, democracy, and more
    GettyImages-1166756409

    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.

  4. 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.

  5. 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.

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  1. chilton1_Karen DuceyGetty Images_USschoollunch Karen Ducey/Getty Images

    The Destructive Legacy of Mass Starvation

    Mariana Chilton thinks the suffering in Gaza should prompt America to confront its own history of genocide and discrimination.
  2. huang4_Ma MingyanChina News ServiceVCG via Getty Images_chinasolarpanels Ma Mingyan/China News Service/VCG via Getty Images

    China’s Overcapacity Can Help the World

    Huang Yiping

    China has built substantial production capacity in green-tech sectors like electric vehicles and solar panels, but has faced rising trade barriers in developed markets whose governments worry about anti-competitive "overcapacity." Fortunately, one hears no such complaints from the Global South.

    shows how Chinese industry and capital can accelerate the green transition in developing countries.
  3. eichengreen195_Thierry MonasseGetty Images_draghi Thierry Monasse/Getty Images

    Europe’s Wake-Up Call

    Barry Eichengreen asks whether European policymakers are prepared to implement the Draghi Report's recommendations.
  4. manivannan2_Buddhika WeerasingheGetty Images)_dri lanka Buddhika Weerasinghe/Getty Images

    Sri Lanka’s Long Road to Recovery

    R.M. Manivannan traces the country’s recent turmoil to poor governance and deepening income disparities.
  5. brown112_Abed ZagoutAnadolu via Getty Images_WHOgaza Abed Zagout/Anadolu via Getty Images

    Investing in the WHO Will Yield Outsize Returns

    Gordon Brown urges the organization’s 194 member states to provide the financing it needs to fulfill its mandate.
  6. bp nobel prize Photo by Atila Altuntas/Anadolu via Getty Images

    Nobel Laureates Help Solve the Inequality Puzzle

    While even the world’s poorest economies have become richer in recent decades, they have continued to lag far behind their higher-income counterparts – and the gap is not getting any smaller. According to this year’s Nobel Prize-winning economists, institutions are a key reason why. From Ukraine’s reconstruction to the regulation of artificial intelligence, the implications are as consequential as they are far-reaching.

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    The Big Picture

  8. nixonsaintil2_Philipp von Ditfurthpicture alliance via Getty Images_ai classrooms Philipp von Ditfurth/picture alliance via Getty Images

    Unlocking AI-Powered Learning

    Justina Nixon-Saintil foresees the technology enhancing student learning and creating new pathways to rewarding careers.
  9. vigliotti2_ Ali JadallahAnadolu via Getty Images_hunger Ali Jadallah/Anadolu via Getty Images

    Financing Food Security Will Yield High Returns

    Gelsomina Vigliotti & Maurizio Martina explain why massive investment in more sustainable agrifood systems is a moral and strategic imperative.

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