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Raghuram G. Rajan

Raghuram G. Rajan

Writing for PS since 2003
93 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. Reform or Irrelevance for the IMF?
    rogoff216_ SAUL LOEBAFP via Getty Images_imf Saul Loeb/AFP via Getty Images

    Reform or Irrelevance for the IMF?

    Oct 24, 2024 Raghuram G. Rajan explains how the world’s financial backstop must change if it is to remain effective.

  2. 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.

  3. 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.

  4. 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.

  5. 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.

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  1. BP trump china MARK RALSTON/AFP via Getty Images
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    What Will Trump Do About China?

    US President-elect Donald Trump campaigned on a promise to take a confrontational approach to China, with tariffs as his weapon of choice. But unless his administration adopts a measured approach, his plans may end up harming American businesses and consumers, undermining US democracy, or even leading to military confrontation.

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    The Big Picture

    PS editors
  3. karman1_getty images_cooperation Getty Images
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    Human Progress in the Trump Era

    Tawakkol Karman, et al. propose ways to foster a culture of cooperation at a time of rising conflict and democratic erosion.
  4. frankel166_JemalCountessGettyImages_national_debt Jemal Countess/Getty Images
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    Elon Musk’s $2 Trillion Fiscal Fantasy

    Jeffrey Frankel

    It is often said that a businessman like Donald Trump or Elon Musk will know how to put America’s fiscal house in order. But between Trump’s planned tax cuts and Musk’s absurd estimate of how much federal spending can be reduced, the smart money says they have no idea what they are doing.

     dives into the incoming US administration’s absurd claim that fresh tax cuts will not increase the deficit.
  5. buchholz21_getty images_us china Getty Images
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    The Deal Trump Should Offer China

    Todd G. Buchholz

    To address what he sees as an unfair Sino-American economic relationship, Donald Trump should focus not on trade but on China's currency manipulation and massive holdings of US debt. After all, why saddle US consumers with higher costs when you can demand reparations directly from a foreign competitor?

     proposes that the incoming US administration push for a debt write-off and market access instead of tariffs.
  6. muzikarova7_NurPhotoGettyImages_cyberconference_poland NurPhoto/Getty Images
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    Central and Eastern Europe’s Bid for AI Dominance

    Soňa Muzikárová outlines steps policymakers can take to harness the technology’s potential to boost growth and prosperity.
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    Can Technology End Corruption?

    Azalina Othman Said thinks that powerful new digital tools can help, but only if governments commit to upholding the rule of law.
  8. scherger1ARMEND NIMANIAFP via Getty Images_farming ARMEND NIMANI/AFP via Getty Images
    Free to read
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    Carbon Farming Won't Save the Planet

    Sophie Scherger warns that soil-storage offsets may serve as a smokescreen for polluting industries.
  9. bildt129_MaximShipenkovGettyImages_valdai_putin_fail Maxim Shipenkov/Getty Images
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    Putin’s March of Folly

    Carl Bildt argues that Russia’s president has only his own poor decisions to blame for his country’s loss of status.

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