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In the News

The Third Pillar Explores How Community Control And Solidarity Are Necessary Pillars In A Vibrant Society

featuring Raghuram Rajanvia International Examiner
Sunday, June 30, 2019

The Third Pillar: How Markets and the State Leave the Community Behind is three-part look at how modern nations and markets developed at the expense of community control and solidarity. Authored by Raghuram Rajan, currently a professor at the University of Chicago who grew up in India and headed the Reserve Bank of India from 2013-2016, The Third Pillar argues that national governments in many countries have grown so large that they have increasingly allocated resources and created policies without local input.

In the News

Raghuram Rajan In The Frame As UK Contemplates A Foreign Central Bank Boss

featuring Raghuram Rajanvia The Economic Times
Wednesday, June 12, 2019

Raghuram Rajan has delivered some uncomfortable economic truths in a career spanning the International Monetary Fund and powerful positions in his native India. The question is whether Brexit Britain is ready to hear them from another foreign Bank of England governor.

Analysis and Commentary

The Devil Is In The Device, Not The Platform

by Chirantan Chatterjee mentioning George P. Shultz, Condoleezza Rice, Joseph Nye, Niall Fergusonvia The Hill
Monday, June 10, 2019

With the buzz around 2020 U.S. elections building, and an election in another large democracy, India, just concluded, it is time for societies to place more of an emphasis on mobile phone regulation than they do on social media.

In the News

Banks Can’t Cut Rates Till Govt Drops EPF, Etc, Interest

quoting Raghuram Rajanvia Financial Express
Thursday, June 6, 2019

The sharp deceleration in growth over the past year, culminating in a jaw-dropping 5.8% year-on-year (y-o-y) in the March quarter, is enough evidence the economy is stalling. Although there is a clamour for a policy rate cut, high interest rates are not the main cause for poor growth though there is doubt that a smaller interest bill does make a big difference to small businesses.

In the News

Raghuram Rajan's Mission To Fix Capitalism From The Inside

featuring Raghuram Rajanvia Forbes
Monday, June 3, 2019

Raghuram Rajan has been tipped as a future Governor of the Bank of England but for now the economist is focused on bigger challenges - reshaping the relationship between capitalism, democracy and communities.


David Mulford On India, China, And Economic Trends

interview with David C. Mulfordvia The Federalist
Monday, June 3, 2019

Hoover Institution fellow David Mulford weighs in on populism in Indian elections, major concerns over relations with China, Brexit, and his time as US Ambassador to India as it emerged as an economic power.

In the News

A Reform Agenda For Modi 2.0

quoting Raghuram Rajanvia The Hindu Business Line
Sunday, June 2, 2019

Thirteen economists offer non-partisan, common-sense prescriptions for policy action across various sectors Earlier this week, barely days after Narendra Modi led the BJP to a stunning re-election triumph and the new Ministry took charge, a trickle of official data confirmed the bad economic news that everyone but the government had known about for months.

In the News

Stronger Leadership, Stronger Ties

mentioning Condoleezza Ricevia Economic Times (India)
Friday, May 31, 2019

Americans were indeed surprised by the size of Prime Minister Narendra Modi’s mandate. But rattled they are not. It’s true that US President Donald Trump likes strong leaders. But cheerleading is unusual.

In the News

When Growth Isn’t Inclusive And Benefits Only A Section

quoting Raghuram Rajanvia The Sentinel
Wednesday, May 29, 2019

Just ahead of the 2008 economic meltdown, when India was the flavour of the season at Davos, a top official of the erstwhile Planning Commission made a startling albeit roundabout admission: that the “inclusive growth” mantra of the time was not for the “aam aadmi” but for PLUs (people like us) and those in the higher strategy.

In the News

'Don't Exacerbate The Problems': Raghuram Rajan's Advice To Modi 2.0 On Economy

featuring Raghuram Rajanvia Business Today
Wednesday, May 29, 2019

Listing out his views on economic agendas for the new government, former RBI governor Raghuram Rajan has said the new dispensation needs to address the fiscal gap and revive agriculture, power and banking sectors. In his latest blog post, which was co-written with Abhijeet Banerjee, Rajan said both the Centre as well state governments should target to reduce fiscal deficit to FRBM (Fiscal Responsibility and Budget Management Act)-suggested 5 per cent by 2023. For this, there is a need to create better compliance and progressive taxation, he said. He also suggested that a Centre-state council modelled on the successful GST Council could be formed to ensure fiscal federalism.