Raghuram Rajan
Raghuram Rajan
Raghuram Govind Rajanis an Indian economist currently serving as the 23rd Governor of the Reserve Bank of India. He was chief economist at the International Monetary Fund from 2003 to 2007, the youngest to occupy the position. He was a professor of finance at the University of Chicago Booth School of Business from 1991 to 2013, when he went on public service leave...
ProfessionEconomist
Date of Birth3 February 1963
clear danger higher oil present prices
Higher oil prices are a clear and present danger.
continue fed increasing interest likely near process rates
The Fed will be watchful and will likely continue the process of increasing interest rates in the near term.
These things are not infinite. At some point, they come to an end.
greater price
If you actually see price declines...you could see even greater effects.
few house increase past prices rate
House prices can't increase at the rate in which they have been going over the past few years.
globally insure job losing net risk safety serious
In a globally competitive economy, it is very important you insure the individual, you have a safety net for the individual, because they're at serious risk of losing their job and so on.
advanced economy industries kinds labor tremendous
India, in its most advanced states, has the kinds of industries that you would see in advanced economies, not in an economy that has tremendous amounts of labor and should do low-skilled stuff.
world cost chance
We are taking a greater chance of having another crash at a time when the world is less capable of bearing the cost.
country powerful competition
Because the free market system is so weak politically, the forms of capitalism that are experienced in many countries are very far from the ideal. They are a corrupted version, in which powerful interests prevent competition from playing its natural, healthy role.
challenges economy challenging-times
We have very stable, solid economy; we are going through challenging times.
economy be-careful handle
We have to be careful of not injecting more uncertainty than economy can handle
our-actions pace currents
Our actions will be at measured pace given the current market turmoil.
two historical hints
For nearly two centuries, scholars and politicians have debated the future of capitalism. Its critics, most prominent among them Karl Marx, have seen capitalism as intrinsically unstable, full of contradictions that will lead eventually to its collapse. Its supporters see it as the best way to allocate resources and rewards. Some even hint that the democratic capitalistic society is not just a phase in the historical evolution of economic systems but its ultimate end.
cutting government cost
When you start cutting government expenditure, at some point you are cutting essential services rather than excessive services. So you have to take into account the social costs involved in cutting government spending.