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Raghuram G. Rajan

Raghuram G. Rajan

Writing for PS since 2003
88 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 Monetary Policy and Its Unintended Consequences (The MIT Press, 2023).

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  1. 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.

  2. Raghuram G. Rajan on inflation, financial risks, interest rates, and more
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    Raghuram G. Rajan on inflation, financial risks, interest rates, and more

    Jan 9, 2024 Raghuram G. Rajan says when the US Federal Reserve might start cutting rates, considers how to mitigate monetary-policy spillovers, proposes measures to boost financial stability, and more.

  3. The World Needs a Humble Approach to Central Banking
    op_frenkel1_MANDEL NGANAFP via Getty Images_fed MANDEL NGAN/AFP via Getty Images

    The World Needs a Humble Approach to Central Banking

    Dec 8, 2023 Jacob Frenkel, et al. explain why monetary policymakers must accept a deliberately narrow mandate.

  4. When More Financial Regulation Is Not Better
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    When More Financial Regulation Is Not Better

    Oct 31, 2023 Raghuram G. Rajan warns that higher capital requirements for banks become counterproductive beyond a certain point.

  5. 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.

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  1. delong200_Chip Somodevilla_Getty Images Chip Somodevilla/Getty Images

    The Threat of Trumpflation and a Fed War

    J. Bradford DeLong thinks monetary hawks should be more worried about the return of a populist demagogue to the White House.
  2. yi5_Kevin FrayerGetty Images_zero covid protest Chen Yihang/VCG via Getty Images

    Is China Too Old to Get Rich?

    Yi Fuxian explains why the country’s rising median age is at the root of its current malaise.
  3. bildt123_Shi KuanbingVCG via Getty Images_chinaEV Shi Kuanbing/VCG via Getty Images

    The Dangerous Retreat into Protectionism

    Carl Bildt warns that nothing good will come from a more deeply fragmented global economy.
  4. sonin5_Jakub PorzyckiNurPhoto via Getty Images_ukrainenato Jakub Porzycki/NurPhoto via Getty Images

    The Case for Ukraine’s NATO Accession

    Yuriy Gorodnichenko & Ilona Sologoub explain why giving in to the Kremlin’s nuclear blackmail could push the alliance into a death spiral.
  5. strain14_artificial intelligence drug development_ai Getty Images

    Don’t Believe the AI Hype

    Daron Acemoglu

    If you listen to tech industry leaders, business-sector forecasters, and much of the media, you may believe that recent advances in generative AI will soon bring extraordinary productivity benefits, revolutionizing life as we know it. Yet neither economic theory nor the data support such exuberant forecasts.

    finds nothing to support widely cited assessments of the technology’s near-term potential.
  6. yu77_CFOTOFuture Publishing via Getty Images_china consumption CFOTO/Future Publishing via Getty Images

    What the China Pessimists Are Getting Wrong

    Yu Yongding rejects gloomy narratives about the economy’s prospects and proposes ways to revive growth.
  7. adda1_ Nicholas KajobaXinhua via Getty Images_hbv Nicholas Kajoba/Xinhua via Getty Images

    A Big Step Forward for Liver Health

    Danjuma Adda explains how new hepatitis guidelines from the World Health Organization could reduce cancer deaths in Africa.
  8. khrushcheva181_ SERGEI BOBYLYOVPOOLAFP via Getty Images)_xi putin SERGEI BOBYLYOV/POOL/AFP via Getty Images

    The Fragile Fraternity of China and Russia

    Nina L. Khrushcheva

    Vladimir Putin’s recent state visit to Beijing – his first trip abroad since being inaugurated for a fifth term – was practically a mirror image of Mao Zedong’s visit to Moscow 75 years ago, when Stalin looked down on his guest. There is little reason to think that the bilateral relationship will prove more resilient this time.

    doubts that two countries with such diverging interests will be able to build a lasting partnership.
  9. subacchi41_ViaframeGetty Images_worldcrackingglobebreaking Viaframe/Getty Images

    The Global Economy Is More Vulnerable Than It Seems

    Bertrand Badré & Yves Tiberghien identify five factors driving a potentially catastrophic trend toward fragmentation.

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