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Raghuram G. Rajan

Raghuram G. Rajan

Writing for PS since 2003
84 commentaries
1 videos & podcasts

Raghuram G. Rajan, former governor of the Reserve Bank of India, is Professor of Finance at the University of Chicago Booth School of Business and the author, most recently, of The Third Pillar: How Markets and the State Leave the Community Behind (Penguin, 2020).

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  1. The Populist Advantage
    rajan84_Alex WongGetty Images_mmt Alex Wong/Getty Images

    The Populist Advantage

    Aug 18, 2023 Raghuram G. Rajan explains why so many previously discredited economic policies have become easier to sell to the public.

  2. Not Buying Central Banks’ Favorite Excuse
    rajan83_Kevin DietschGetty Images_federalreserve Kevin Dietsch/Getty Images

    Not Buying Central Banks’ Favorite Excuse

    May 26, 2023 Raghuram G. Rajan shows why monetary policymakers must bear some of the blame for the latest banking-sector turmoil.

  3. The Fed’s Role in the Bank Failures
    rajan82_BRENDAN SMIALOWSKIPOOLAFP via Getty Images_jeromepowell Brendan Smialowski/Pool/AFP via Getty Images

    The Fed’s Role in the Bank Failures

    Mar 28, 2023 Raghuram G. Rajan & Viral V. Acharya show how the US central bank's liquidity policies created the conditions for runs on uninsured deposits.

  4. Will the Fed Overdo It?
    rajan81_GRAEME JENNINGSPOOLAFP via Getty Images_jeromepowell Graeme Jennings/Pool/AFP via Getty Images

    Will the Fed Overdo It?

    Jan 24, 2023 Raghuram G. Rajan considers the central bank's limited options as it navigates an increasingly perilous economic environment.

  5. Deglobalization Is a Climate Threat
    rajan80_BRENDAN BANNONAFP via Getty Images_climaterefugees Brendan Bannon/AFP via Getty Images

    Deglobalization Is a Climate Threat

    Nov 18, 2022 Raghuram G. Rajan shows how a world of fragmentation and mutual suspicion will impede effective responses to global warming.

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  1. khrushcheva171_MIKHAIL METZELPOOLAFP via Getty Images_putinkim Mikhail Metzel/Pool/AFP via Getty Images
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    Putin and Kim’s Cartoon Summit

    Nina L. Khrushcheva thinks that Russia's recent meeting with North Korea was intended primarily as a warning to the South.
  2. haykel18_MANDEL NGANAFP via Getty Images_mbs Mandel Ngan/AFP via Getty Images
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    Saudi Arabia’s New Nationalism

    Bernard Haykel explains the reasoning behind the Kingdom's ongoing domestic- and foreign-policy transformation.
  3. wagner22_Lukas SchulzeGetty Images_pollution Lukas Schulze/Getty Images
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    The Green Growth Mindset

    Gernot Wagner sees doctrinaire debates about capitalism as irrelevant or even deleterious to the decarbonization effort.
  4. mallochbrown17_GIANLUIGI GUERCIAAFP via Getty Images_africawomenpolitics Gianluigi Guercia/AFP via Getty Images
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    Africa Is the Future of Multilateralism

    Mark Malloch-Brown explains why the continent should be at the forefront of efforts to bring about international reforms.
  5. op_yi2_PEDRO PARDOAFP via Getty Images_chinahousing Pedro Pardo/AFP via Getty Images
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    A Chinese Bubble Long in the Making

    Yi Fuxian

    The Chinese government is very good at covering up small problems, but these often pile up into much bigger ones that can no longer be ignored. The current real-estate bubble is a case in point, casting serious doubts not just on the wisdom of past policies but also on China's long-term economic future.

     traces the long roots of the country's mounting economic and financial problems.
  6. bp industrial policy Photo by Scott Olson/Getty Images
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    Industrial Policy Is Back

    From semiconductors to electric vehicles, governments are identifying the strategic industries of the future and intervening to support them – abandoning decades of neoliberal orthodoxy in the process. Are industrial policies the key to tackling twenty-first-century economic challenges or a recipe for market distortions and lower efficiency?

  7. fischer208_DrAfter123Getty Images_AIhuman DrAfter123/Getty Images
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    Is AI a Master or Slave?

    Joschka Fischer wonders whether humanity can even hope to maintain control in an era of “mega-crisis.”
  8. haldar25_BettmannGetty Images_friedmanreagan Bettmann/Getty Images
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    Laying Chicago Economics to Rest

    Antara Haldar

    From breakthroughs in behavioral economics to mounting evidence in the real world, there is good reason to think that the economic orthodoxy of the past 50 years now has one foot in the grave. The question is whether the mainstream economics profession has gotten the memo.

     looks back on 50 years of neoclassical economic orthodoxy and the damage it has wrought.
  9. delong254_ Samuel CorumGetty Images_january6riot Samuel Corum/Getty Images
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    America’s Broken Civic Bargain

    J. Bradford DeLong worries that Republicans have abandoned one of the core principles that sustains a democracy over time.

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