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Raghuram G. Rajan

Raghuram G. Rajan

Writing for PS since 2003
82 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 The Third Pillar: How Markets and the State Leave the Community Behind (Penguin, 2020).

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  1. The Fed’s Role in the Bank Failures
    rajan82_BRENDAN SMIALOWSKIPOOLAFP via Getty Images_jeromepowell Brendan Smialowski/Pool/AFP via Getty Images

    The Fed’s Role in the Bank Failures

    Mar 28, 2023 Raghuram G. Rajan & Viral V. Acharya show how the US central bank's liquidity policies created the conditions for runs on uninsured deposits.

  2. Will the Fed Overdo It?
    rajan81_GRAEME JENNINGSPOOLAFP via Getty Images_jeromepowell Graeme Jennings/Pool/AFP via Getty Images

    Will the Fed Overdo It?

    Jan 24, 2023 Raghuram G. Rajan considers the central bank's limited options as it navigates an increasingly perilous economic environment.

  3. Deglobalization Is a Climate Threat
    rajan80_BRENDAN BANNONAFP via Getty Images_climaterefugees Brendan Bannon/AFP via Getty Images

    Deglobalization Is a Climate Threat

    Nov 18, 2022 Raghuram G. Rajan shows how a world of fragmentation and mutual suspicion will impede effective responses to global warming.

  4. Where Has All the Liquidity Gone?
    rajan79_Karol SerewisSOPA ImagesLightRocket via Getty Images_poundsterling Karol Serewis/SOPA Images/LightRocket via Getty Images

    Where Has All the Liquidity Gone?

    Oct 7, 2022 Raghuram G. Rajan & Viral V. Acharya show that years of quantitative easing have left financial markets deeply dependent on easy money.

  5. The Post-Inflation Economy That Could Be
    rajan78_Brooks Kraft LLCCorbis via Getty Images_telemedicine Brooks Kraft LLC/Corbis via Getty Images

    The Post-Inflation Economy That Could Be

    Aug 2, 2022 Raghuram G. Rajan shows how international cooperation and increased trade in services could unleash a productivity revolution.

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  1. gaffney4_Leonardo MunozVIEWpress_tax Leonardo Munoz/VIEWpress

    Tax the Rich to Save the Planet

    Owen Gaffney argues that reducing economic inequality is the key to strengthening democracy and mitigating climate change.
  2. nye240_Yuichiro ChinoGetty Images_worldtechnologyconnection Yuichiro Chino/Getty Images

    Is Globalization Over?

    Joseph S. Nye, Jr. explains why reports of the death of humanity's interdependence are greatly exaggerated.
  3. goldsmith3_LEONARDO MUNOZAFP via Getty Images_trumpindictment Leonardo Munoz/AFP via Getty Images

    Putin and Trump in the Dock?

    Jack Goldsmith explains the risks associated with pursuing criminal prosecutions against high-profile political figures.
  4. fischer202_JULIEN DE ROSAAFP via Getty Images_ukraine JULIEN DE ROSA/AFP via Getty Images

    The Great Revision

    Joschka Fischer examines the broader geopolitical restructuring that was triggered by Russia’s full-scale invasion of Ukraine.
  5. op_feld2_Mike KempIn Pictures via Getty Images_inflation Mike Kemp/In Pictures via Getty Images

    Why Inflation Persists

    Lars P. Feld

    What "Team Transitory" has missed in the inflation debate is that inflation tends to become persistent because of second-round effects. Not only have producer prices risen over the past year or so, but they also have not yet been fully passed through the value chain.

    navigates the complex array of factors that give rise to one of the biggest problems in macroeconomics.
  6. haldar19_ Beata ZawrzelNurPhoto via Getty Images_wanted putin Beata Zawrzel/NurPhoto via Getty Images

    Wanted: Vladimir Putin

    Antara Haldar explains why the International Criminal Court’s indictment is more than just a symbolic victory.
  7. BP financial crisis Anadolu Agency / Contributor via Getty Images

    Here We Go Again?

    Fifteen years after the collapse of the US investment bank Lehman Brothers triggered a devastating global financial crisis, the banking system is in trouble again. Central bankers and financial regulators each seem to bear some of the blame for the recent tumult, but there is significant disagreement over how much – and what, if anything, can be done to avoid a deeper crisis.

  8. roubini175_Michael M. SantiagoGetty Images_debt crisis Michael M. Santiago/Getty Images

    The Coming Doom Loop

    Nouriel Roubini warns that liquidity support will not be enough to prevent a deeper financial crisis and economic downturn.
  9. james202_FABRICE COFFRINIAFP via Getty Images_ubs credit suisse FABRICE COFFRINI/AFP via Getty Images

    Crises of Uncertainty

    Harold James fears the consequences of policymakers’ continual revision of economic and financial governance rules.

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