Raghuram G. Rajan Famous Quotes & Sayings

19 Raghuram G. Rajan Famous Sayings, Quotes and Quotation.

Share on Facebook Share on Twitter Share on Google+ Pinterest Share on Linkedin

Apart from the added efficiency, the willingness to be ruthless helps innovation. Past experience and relationships are of little value in driving radical innovation: indeed, Raghuram G. Rajan Sayings: Apart from the added efficiency, the willingness to be ruthless helps innovation. Past experience and
mind is a terrible thing to waste, and the United States is wasting too many of them. Raghuram G. Rajan Sayings: mind is a terrible thing to waste, and the United States is wasting too many
And more than the quality of its institutions, what distinguishes a developed country from a developing one is the degree of consensus in its politics, and thus its ability to take actions to secure a better future despite short-term pain. Raghuram G. Rajan Sayings: And more than the quality of its institutions, what distinguishes a developed country from a
Politicians today vow, "Never again!" But they will naturally focus only on dealing with a few scapegoats, not just because the system is harder to change, but also because if politicians traced the fault lines, they would find a few running through themselves. Raghuram G. Rajan Sayings: Politicians today vow, "Never again!" But they will naturally focus only on dealing with a
The picture of bankers slavering after bonuses soon after they had been rescued by government bailouts was not only outrageous but also pitiable - pitiable because they were clamoring for their primary measure of self-worth and status to be restored Raghuram G. Rajan Sayings: The picture of bankers slavering after bonuses soon after they had been rescued by government
Nationalism, coupled with great faith in the power of the government to enact domestic bargains between labor and capital, has been seen before: it was called fascism then. Raghuram G. Rajan Sayings: Nationalism, coupled with great faith in the power of the government to enact domestic bargains
My name is Raghuram Rajan and I do what I do. Raghuram G. Rajan Sayings: My name is Raghuram Rajan and I do what I do.
it is not because of the benevolence of the baker that we eat fresh bread every morning but because of his desire to make money. Raghuram G. Rajan Sayings: it is not because of the benevolence of the baker that we eat fresh bread
The eventual aim was to build a 4,000-acre high-tech park, called Alpha Technopolis, to rival Taiwan's famous Hsinchu Science-Based Industrial Park. The vision was grand, perhaps overly so. Raghuram G. Rajan Sayings: The eventual aim was to build a 4,000-acre high-tech park, called Alpha Technopolis, to rival
Not taking risks one doesn't understand is often the best form of risk management. Raghuram G. Rajan Sayings: Not taking risks one doesn't understand is often the best form of risk management.
For example, Shawn Cole, a professor at Harvard Business School, finds that Indian state-owned banks increase their lending to the politically important but relatively poor constituency of farmers by about 5 to 10 percentage points in election years.51 The effect is most pronounced in districts with close elections. The consequences of the lending are greater loan defaults and no measurable increase in agricultural output, which suggest that it really serves as a costly form of income redistribution. Raghuram G. Rajan Sayings: For example, Shawn Cole, a professor at Harvard Business School, finds that Indian state-owned banks
decision by consensus is inherently conservative. Raghuram G. Rajan Sayings: decision by consensus is inherently conservative.
A book is almost always a collective effort, even if it has only a single author. Raghuram G. Rajan Sayings: A book is almost always a collective effort, even if it has only a single
A forced equalization of wages that disregards the marginal contributions of different workers will deaden incentives and lead to a misallocation of resources and effort. Raghuram G. Rajan Sayings: A forced equalization of wages that disregards the marginal contributions of different workers will deaden
I thought there might be some grand design I did not understand, but the government's policy clearly was not working, because India was still poor. I was determined to learn more, so I became interested in economics. This book is another unintended consequence of the government's policies. Raghuram G. Rajan Sayings: I thought there might be some grand design I did not understand, but the government's
Cynical as it may seem, easy credit has been used as a palliative throughout history by governments that are unable to address the deeper anxieties of the middle class directly. Raghuram G. Rajan Sayings: Cynical as it may seem, easy credit has been used as a palliative throughout history
By focusing only on jobs and inflation - and, in effect, only on the former - the Fed behaved myopically, indeed politically. Raghuram G. Rajan Sayings: By focusing only on jobs and inflation - and, in effect, only on the former
We have long understood that it is not income that matters but consumption. Stripped to its essentials, the argument is that if somehow the consumption of middle-class householders keeps up, if they can afford a new car every few years and the occasional exotic holiday, perhaps they will pay less attention to their stagnant monthly paychecks. Raghuram G. Rajan Sayings: We have long understood that it is not income that matters but consumption. Stripped to
Our goal should be to make decision makers internalize the full consequences of their decisions, rather than prevent them from making decisions altogether [...] But we tend to reform under the delusion that the regulated institutions and the markets they operate in are static and passive, and that the regulatory environment will not vary with the cycle. Ironically, faith in draconian regulation is strongest at the bottom of the cycle, when there is little need for participants to be regulated. By contrast, the misconception that markets will govern themselves is most widespread at the top of the cycle, at the point of maximum danger to the system. We need to acknowledge these differences and enact cycle-proof regulation, for a regulation set against the cycle will not stand. To have a better chance of creating stability throughout the cycle--of being cycle-proof--new regulations should be comprehensive, nondiscretionary, contingent, and cost-effective. Raghuram G. Rajan Sayings: Our goal should be to make decision makers internalize the full consequences of their decisions,