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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. aghion8Getty Images_innovation iStock / Getty Images Plus

    Can Europe Create an Innovation Economy?

    Philippe Aghion, et al. explain what EU member states must do to stop falling further behind the United States economically.
  2. krueger52_FREDERIC J. BROWNAFP via Getty Images_shipping port us FREDERIC J. BROWN/AFP via Getty Images

    Trump’s Proposed Tariffs Are a Gift to the Rich

    Simon Johnson cites research showing that middle-class US households would foot the bill.
  3. imweber7_Dave ReedeDesign Pics EditorialUniversal Images Group via Getty Images_grain storage Dave Reede/Design Pics Editorial/Universal Images Group via Getty Images

    Building a Buffer Against Food-Price Shocks

    Isabella M. Weber, et al. urge Brazil and South Africa, as successive G20 presidents, to devise a new stabilization playbook.
  4. benami215_IBRAHIM HAMSAFP via Getty Images_gazawar Ibrahim Hams/AFP via Getty Images

    Nothing New on the Middle Eastern Front

    Slavoj Žižek sees developments in the year since October 7, 2023, as the logical realization of long-standing potentialities.
  5. james222_Win McNameeGetty Images)_debate Win McNamee/Getty Images)

    Trump’s Tariffs Are an Opportunity for Harris

    Harold James urges the Democratic presidential candidate to reject the new consensus against free trade.
  6. milani6_MENAHEM KAHANAAFP via Getty Images_israeliranmissiles Menahem Kahana/AFP via Getty Images

    A Dangerous Dance for Israel and Iran

    Abbas Milani sees both countries walking a tightrope to maintain deterrence without provoking a full-blown war.
  7. haldar38_ERNESTO BENAVIDESAFP via Getty Images)_fujimori ERNESTO BENAVIDES/AFP via Getty Images)

    The Bloody Path of Alberto Fujimori’s Neoliberalism

    Antara Haldar assesses the former Peruvian president’s legacy of free-market reform and death-squad dictatorship.
  8. benami218_JALAA MAREYAFP via Getty Images_lebanon israel iran JALAA MAREY/AFP via Getty Images

    The Middle East’s Deadly Dream Palaces

    Shlomo Ben-Ami traces the delusions of Arab, Iranian, and Israeli leaders that have kept the region mired in violence.
  9. op_sonin1_ILYA PITALEVSPUTNIKAFP via Getty Images_russiamilitaryproduction Ilya Pitalev/Sputnik/AFP via Getty Images

    Making Sense of Russia’s War Economy

    Konstantin Sonin

    Despite the apparent resilience of Russia's economy, Vladimir Putin’s full-scale war against Ukraine comes at a high economic cost. Not only does it require today’s Russians to live a worse life than they otherwise would have done; it also condemns future generations to the same.

    explains the apparent resilience of growth and employment in the face of increasingly tight sanctions.

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